Tough capital rules will not stunt growth: Bank's Miles

david-miles

Banks' fears higher capital requirements could result in significantly higher costs of funding and so impair growth are not well-founded in economic thinking, David Miles, an external member of the Bank of England's rate-setting Monetary Policy Committee, said on Thursday.

In remarks to a business forum in Bristol, Miles identified two reasons for which the link between, borrowing and growth, and higher capital ratios, which has been utilised by top bankers and lobby groups such as the Institute

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