OMO changes must temper money-market woe: King

Mervyn King, the governor of the Bank of England, said the central bank must ensure its revised system for open market operations leads to overnight interbank rates remaining close to its official rate regardless of financial market conditions.

The primary objective of the Bank's revised system, which it is set to reveal "in due course", was "to implement monetary policy by keeping interest rates on overnight borrowing in the money markets in line with bank rate," King told the Treasury Selec

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: