The world is not on the cusp of another banking crisis of the scale of the 2008 crash, despite recent jitters in the market, Bank of England governor Andrew Bailey has said.
Speaking in Washington DC, he said the banks themselves are in a better position than they were, and that authorities also have better tools to deal with any potential problems.
“I do not see the evidence that we’ve got on our hands what I would call the makings of a 2007/08 financial crisis,” Bailey stated at an event hosted by the International Monetary Fund in Washington on Wednesday evening UK time.
