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Bank of England (BoE) Governor Andrew Bailey said on Tuesday that they are not currently looking to extend the COVID Corporate Financing Facility (CCFF), as reported by Reuters.

Key takeaways

“I don’t see a credit crunch immediately.”

“We have had a severe health crisis, not a banking crisis.”

“I do want to get back to climate-related issues around corporate bond purchases.”

“COVID has been a harsh lesson for companies that went into the crisis with too much debt.”

Market reaction

These comments don’t seem to be having a significant impact on the British pound’s performance against its rivals. As of writing, the GBP/USD pair was down 0.58% on a daily basis at 1.2988.