BoE’s FPC must be sharp on risks as next phase of credit cycle emerges, Cunliffe says
Cunliffe examines outlook for countercyclical macro-prudential policy
It will become "even more" important for the Bank of England's financial policy committee to consider how risks are building in the financial system and how they should be addressed in the "next phase" of the credit cycle, deputy governor Jon Cunliffe said on November 10.
Cunliffe told an audience in Geneva the UK was moving into a "more normal phase" in the cycle, with credit "beginning to grow again, albeit at rates below the pre-crisis peaks". He offered a range of strategies for time-varying
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