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City of London

The BOE Is Stuck Dealing with Policy Uncertainty, NatWest Chairman Says

Howard Davies discusses the challenges facing the central bank and why things aren't yet "catastrophic" for the future of the UK.

Howard Davies

Howard Davies

Photographer: Al Drago/Bloomberg

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The Bank of England is stuck dealing with the symptoms of uncertainty introduced by the mini-budget, says NatWest Chairman Howard Davies. “We're in a strange hiatus period where you've had a government announcement of a direction of fiscal policy without the details,” Davies explains, “and that has created an environment in which volatility has been unusually high.”