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Central banks need to improve their tools for curbing instability in financial markets after the global bond market turmoil at the start of the COVID-19 pandemic and a repeat in Britain last year, a senior Bank of England official said on Friday. The central bank bought 19 billion pounds ($23 billion) of government debt in an emergency move in September and October after former prime minister Liz Truss's tax cut plans triggered record falls in bond prices, threatening pension funds. Andrew Hauser, the BoE's executive director for markets, said a broader public agreement was needed on how much financial instability was acceptable, what elements financial institutions should be expected to insure against, and in what cases it was better for central banks to step in.