ContextSpeech at the G30 37th International Banking Seminar in Washington, weeks after the gilt market crisis; the Bank of England protects monetary and financial stability.
Why it mattersBailey explains the temporary bond purchases during the gilt crisis.
Problems raised
Times are very difficult, especially for Ukraine.
Market turmoil threatened UK financial stability.
Tightening and bond purchases seem to conflict.
Solutions proposed
Keep tightening monetary policy as needed.
Use temporary targeted interventions for financial stability.
