The Governor of the Central Bank Gabriel Makhlouf has said the economy and financial system 'is still adjusting to the change in interest rates by central banks.'
The Governor of the Central Bank Gabriel Makhlouf has said the economy and financial system"is still adjusting to the change in interest rates by central banks."
The Central Bank is seeing"vulnerabilities" in commercial real estate, but he said the"broad macro picture" shows resilience in the economy and financial system. The reason for this is to"learn from the introduction of the new framework to executives in the first instance as well as how we will use the framework to inform our supervision".
In a discussion, Andrew Bailey said he believed it was too early to be talking about cutting rates in the UK and that monetary policy is going to have to be restrictive for an extended period.