Just under half of the funds used to rebuild their capital base came from government intervention. Looking ahead, banks’ capital requirements must be met by reactivating the market. This depends on the total transparency of banking assets.
But we do not expect uncritical coverage from the media of the BOU as that would be counterproductive and would do little to enhance public confidence in monetary policy. Instead, we welcome well informed comment and analysis by the media of our monetary policy, even if critical, which can enhance public understanding and contribute to public debate.