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Bank of England chief executive Nathaniel Benjamin said on Wednesday that investment banks must prepare for tougher times by appropriately keeping risks away from their clients.
And data published today, Wednesday, revealed that inflation in England rose to a 40-year high of 9.4%.
Governor Andrew Bailey said Bank of EnglandThere will be no “what if or but” when it comes to raising interest rates to curb price hikes and increase credit rates for bank customers.
Benjamin stated that there was a generation of bankers who only had experience in dealing with a largely accommodative economic environment when the banks made very big “interests”, and now the banks have to learn to handle a different situation.
