Bank paper outlines macroprudential tools

The Bank of England on Saturday outlined its thinking on applying a macroprudential toolkit to help safeguard against instability.

In an eagerly-awaited paper, entitled ‘The role of macroprudential policy', the Bank suggested it would be "unrealistic" to target asset-price bubbles specifically but indicated some measures could help temper the worst excesses of the credit cycle.

The report also said tools for the management of network risk created by spillovers could help.

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