BoE’s Hauser makes case against ultra-lean balance sheets

Even with central bank backstops, markets are not reliable liquidity managers, official says

Andrew Hauser - BoE - web.jpg
Andrew Hauser

Persistent problems with markets’ ability to manage liquidity mean it would be unwise for central banks to shrink their balance sheets too far, Andrew Hauser said today (November 3).

The Bank of England executive director argued the financial system had changed too far for central banks to return fully to the pre-great financial crisis (GFC) world. However, he also said the BoE would seek to take measures to improve markets’ ability to manage liquidity without central bank intervention.


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