Dombret says role of central banks 'changed fundamentally' by crisis


Deutsche Bundesbank executive board member Andreas Dombret believes that during the course of the financial crisis, the role of central banks has "changed fundamentally".

Speaking at a conference in Berlin on April 25, he said: "Before the crisis, they [central banks] provided scarce liquidity; now, they increasingly serve as a regular source of funding for banks, and this threatens to replace or displace private investors."

Dombret added that this may lead to "new financial instability if, as a

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