Bailey highlights key challenges to central banking orthodoxy
BoE governor says focus on financial stability remains key during “Covid-Ukraine era”
The Bank of England governor today (August 23) said central banks have had to recalibrate how they deal with threats to financial stability in the “Covid-Ukraine era”.
In a speech to the Jackson Hole Economic Symposium, Andrew Bailey outlined what he feels are the key challenges to central banking “orthodoxy” following recent shock events such as the pandemic and Russia’s invasion of Ukraine.
The first, he said, was how to operate monetary policy near the lower bound of interest rates when the
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