June 18, 2019 / 9:45 AM / a month ago

Complacency is biggest financial risk - BoE's Bowe

LONDON, June 18 (Reuters) - Complacency is the biggest risk facing Britain’s huge banking sector, according to Colette Bowe, who is due to start her role as a Bank of England policymaker later this year.

Bowe, responding to written questions from lawmakers ahead of taking office, also said the BoE needed to show the greatest possible vigilance in watching out for Brexit risks, especially as Brexit could coincide with a global downturn.

Asked about a list of risks facing the financial sector, she singled out one as the top priority: “Complacency.”

Bowe was named as a member of the BoE’s Financial Policy Committee earlier this year and is due to take her seat in time for the FPC’s round of meetings in the third quarter of 2019. (Reporting by David Milliken Editing by William Schomberg)

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