BOE Governor Says Global Banks are More Robust Than in 2008
- Central bank raises key rate another quarter point to 4.25%
- Remarks suggest BOE will prioritize inflation over market fear
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Bank of England Governor Andrew Bailey said the global banking system is more robust and better capitalized than in was in 2008, making a repeat of the crisis more than a decade ago unlikely.
“We’ve learned a lot of lessons in the financial crisis,” Bailey said in a pooled clip for broadcasters on Thursday. “Of course we keep learning lessons. I’m confident that in this country we are in a much stronger position. Their capital is stronger, their funding is stronger, and so far I think we’ve seen the signs that they’ve come through that robustly.”