Goodhart: central banks unprepared for liquidity support

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Charles Goodhart, a professor at the London School of Economics and a former member of the Bank of England's Monetary Policy Committee, has argued that central banks will have to work together to agree common standards for liquidity provision after the crisis underlined the inadequacy of current arrangements.

Speaking at the London School of Economics (LSE) on Friday, Goodhart said when the crisis hit in August 2007, "central banks were unprepared for the scale and extent of liquidity needs, and

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