Money  BIS central bankers’ speeches  1  market rates (like LIBOR and EURIBOR) are standard benchmarks for pricing of bonds, loans and other financial products. Market manipulation of this key benchmark – as reportedly happened to LIBOR recently – though undermined the faith in money market. A sound money market would have to ensure conditions where banks can conduct business safely.
In addition to this, we envision even more. When I became Governor, I articulated my plans in the phrase, “Continuity Plus Plus.”...