The Governor of the Bank of England, Andrew Baileyand Lieutenant Governor David Ramsden testify Tuesday before the Treasury Select Committee on the bankruptcy of Silicon Valley Bank (SVB).
Featured Statements
Silicon Valley Bank’s failure was the fastest since Barings.
Credit Suisse was a company-specific problem.
I don’t think any of these features of the recent banking problems are causing stress in the UK.
We are in a period of greater tension and alertness.
For his part, the deputy governor of the Bank of England, Dave Ramsden, declared: “We will closely monitor the financing costs of the banks.”
market reaction
He GBP/USD is paying little attention to the statements of the BoE policymakers, hovering around the 1.2300 level as of this writing. At the moment, the pair earns 0.13% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
