BoE’s Haldane: Monpol should be last line of defence in presence of financial stability risks
“Monetary policy should be the ‘last line of defence’ in the presence of financial stability risks,” Bank of England Chief Economist Andy Haldane said in his prepared speech on Thursday.
Key quotes (via LiveSquawk):
- Monetary policy can work with macroprudential policy when macroprudential policy leads
- Financial stability policy requires strong institutional frameworks, supported by clear mandates, objectives and instruments