A better way to buy private sector securities?

Central bank asset purchases can do more harm than good, writes HKU’s Bryane Michael


The novel coronavirus outbreak has caused central banks around the world to buy private sector assets on an unprecedented scale. These purchases include bonds and even equities. Yet, most central banks conducting such purchases have little idea of the real economic effects of their activities. There is also a fragile legality for asset purchase in some jurisdictions where central banks do engage in such activities.

There is a need to start rethinking the legal basis for private sector

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account