boe speech, 2025-02-11
However, what we saw in the so-called Dash for Cash in early 2020 with the onset of Covid, and then the 2022 LDI episode were conditions in markets that demonstrated how vulnerabilities in NBFIs can propagate liquidity stress in core UK financial markets, notably the gilt market, and create a prospect of forced selling of gilts that could jeopardise financial stability.
Sentiment: neutral
Topic: financial_stability