Central banks criticised for communication failure

The world's most powerful central banks were inconsistent in their communication and lacked coordination during the summer's market turmoil, Richard Portes, one of the authors of an influential report on international financial stability, said on Monday.

Speaking at the launch of the Centre for Economic Policy Research's and the International Centre for Monetary and Banking Studies's International Financial Stability report, Portes, a professor at the London Business School and one of four co

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