The Bank of England and the Government Debt —— Operations In The Gilt-edged Market, 1928–1972

----- 英格兰银行和政府债务：在金边证券市场的运作

ISBN: 9781108627399 出版年：2018 页码：278 William A Allen Cambridge University Press

The bank of england and the government debt爎ecounts the surprising history of the bank of england's activities in the government securities market in the mid-twentieth century. The bank's governor, montagu norman, had a decisive influence on government debt management policy until he retired in 1944, and established an auxiliary market in government securities outside the stock exchange during the second world war. From the early 1950s, the bank, concerned about inadequate market liquidity, became an increasingly active market-maker in government securities, rescuing the commercial market-makers in the stock exchange several times. The bank's market-making activities often conflicted with its monetary policy objectives, and in 1971, it curtailed them substantially, while avoiding the damaging effects on liquidity in the government securities market that it had feared.