As I look ahead, there are a range of risks that face the financial system in the 海角视频.
A key role of the Bank of England is to ensure that our financial system is prepared for these risks over the coming months and years.
We do this so you don’t have to worry and can focus on what matters to you.
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Brexit is one of those risks.
But our latest review of the largest 海角视频 banks and insurers shows they are strong enough to handle the risk of a very bumpy Brexit and are much stronger than a decade ago after the financial crisis.
The reason behind this is we have made the banks hold a lot more capital - or their ability to withstand losses.
This means the 海角视频 financial system is ready for Brexit, whatever form it takes. Another risk comes from outside our shores as global trade tensions increase.
You have probably seen news of an impending trade war between the US and China.
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If major economies like these bring in further tariffs or taxes on goods and services bought from other nations, this could lead to slower world growth.
Again, like Brexit, we are prepared for this. We have tested for far worse increases than expected in these taxes.
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In fact, they are so big it would be enough to push the world economy into recession.
But even if this were to happen, at the same time as a disorderly Brexit, our banks could cope and continue to lend to individuals and businesses.
These are the immediate risks on the horizon. But we also need to look to the future.
We are also considering the growing issue of how climate change will impact the economy as the 海角视频 aims to move to a carbon neutral footing by 2050.
We will undertake a major review of our banks in 2021, the first of its kind, to check how they are preparing for such risks as extreme weather incidents happening more frequently, reducing the long-term value of some assets that banks have lent against.
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The 海角视频 is leading the charge here. The way we all make payments the West Midlands is changing.
We are quickly becoming more digital, whether in coffee shops, pubs or online at home.
The proportion of transactions using cash in the 海角视频 has fallen from six in ten payments to just under three over the last decade and could approach one in ten over the next ten years.
Withdrawals from cashpoints are down nine per cent on last year.
We have looked at the challenges posed more closely recently and will work with other central banks and private sector providers to ensure such systems are secure and trustworthy so the public and companies can continue to use them confidently.
By addressing such risks to financial stability in the near and longer term, the Bank of England is doing its part to promote the good of the people of the United Kingdom.
Graeme Chaplin is the Bank of England’s agent for the West Midlands and Oxfordshire