Haldane dismisses talk of monetary and macro-prudential tensions
Bank of England’s Andrew Haldane says it is a virtue that different tools can be used to meet conflicting objectives
Andrew Haldane, the Bank of England's executive director for financial markets, insists that central banks should "not fuss too much about the potential tension" between monetary and macro-prudential policy.
Haldane laid out his vision for how the two arms of policy could co-exist in a speech at a Central Bank of Ireland conference on banking and securities regulation last Friday.
In particular, he focused on how the countercyclical capital buffer prescribed by the Basel III accord would operate
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