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UK financial system supports the economy, not vice versa, BOE’s Bailey says

( November 17, 2020, 12:27 GMT | Official Statement) -- MLex Summary: The UK financial system is playing a “key role” in helping companies manage the impact of the Covid-19 economic shock, with lenders supporting the economy — rather than vice versa as seen in the financial crisis a decade ago — the Bank of England governor said today. “That is how it should be,” Andrew Bailey said, adding that “this has been possible due to the resilience that was built up following the global financial crisis.” But more financing will be needed in the aftermath of the coronavirus crisis, he added.The speech is attached....

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