Bank of England Official Says Share Prices Don’t Reflect Risks

A senior Bank of England official warned that high asset prices didn’t reflect the level of risk in the markets, suggesting that global markets could fall.

Sarah Breeden, the British central bank’s deputy governor for financial stability, said that current share prices weren’t yet consistent with the scale of economic pressures facing markets. Breeden made her remarks in an interview with the BBC as the war in Iran approached the start of its third month, with the Strait of Hormuz remaining largely closed to trade.