In carrying out its policy, I believe it is essential for the Bank to be committed to continuing with monetary easing by examining matters from a broad perspective, including developments in financial markets and the financial system as well as economic activity and prices, while carefully considering the balance between the positive effects and the side effects of continuing monetary easing. 7  B.
Government bonds and bank debt went on a rollercoaster ride, after stress in parts of the US banking system triggered bouts of safe haven flows. Yes, volatility has been high. Market liquidity has suffered. But, overall, financial markets have continued to function. First, intermediation in unsecured and secured money markets has continued to work quite well.