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Hauser: Bigger, broader, faster, stronger? How much should tomorrow’s central bank balance sheets do
I am delighted to be opening the 2021 IFABS conference. Your subject is ‘the financial system of tomorrow’ – and I want to kick things off by doing some crystal ball gazing at the role that central banks, as market participants, might play in that future system. It’s actually reassuring to see in that crystal ball that central banks have a role at all. Because whenever central bankers get too big for their boots, it’s worth reminding them that, for most of history, humankind has prospered without them. As late as 1900, there were only 18 central banks globally. 1 Just over a century later, speakers at the ... (full story)
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BOE'S HAUSER: THE BURDEN OF PROOF SHOULD BE PLACED ON CENTRAL BANKS TO EXPLAIN WHY FINANCIAL MARKETS CANNOT WORK BETTER.
— Breaking Market News (@financialjuice) September 13, 2021
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BOE'S HAUSER: WHERE INTERVENTION IS REQUIRED, THE CENTRAL BANK SHOULD ESTABLISH EXPLICIT EX-ANTE EXPECTATIONS, MINIMIZE PREDICTABLE NEGATIVE EFFECTS, AND DEVELOP CLEAR EXIT ROUTES.
— Breaking Market News (@financialjuice) September 13, 2021
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BOE'S HAUSER: ANY FUTURE TARGETED STANDING FACILITIES ARE LIKELY TO DEMONSTRATE TO MARKETS THAT CENTRAL BANKS SHOULD NOT BE EXPECTED TO RESPOND AS FORCEFULLY TO PROBLEMS UNCONNECTED TO A GLOBAL EPIDEMIC.
— Breaking Market News (@financialjuice) September 13, 2021
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BOE'S HAUSER: IN EXCHANGE FOR CENTRAL BANK ACCESS, MARKET PLAYERS SHOULD STRENGTHEN THEIR SELF-INSURANCE AND EXPECT INCREASED REGULATORY SCRUTINY.
— Breaking Market News (@financialjuice) September 13, 2021