BoE’s Pill: Well capitalized banks help combat inflation

Bank of England (BoE) Chief Economist Huw Pill made some comments on the UK banking system, in an appearance on Monday.

Key quotes

“The UK banking system is well capitalized.”

“Well-capitalized banks help combat inflation, though inflation is still far too high.”

Market reaction

GBP/USD is holding its recovery mode intact near 1.2315 on the above comments, losing 0.15% so far.