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OUR BANKING SYSTEM IS SOUND AND RESILIENT WITH STRONG CAPITAL AND LIQUIDITY. MY ONLY INTEREST IS WE IDENTIFY. THEY MAY BE UNDERESTIMATING WHICH IS EXACTLY WHY I WOULD HAVE FAVORED A PAUSE. HE SAID HE DOES NOT KNOW WHAT KIND OF CREDIT TIGHTENING IS GOING TO COME BUT WE DO KNOW THAT INFLATION IS A REAL PROBLEM. I THINK WHAT HE SAID WAS JOLLY STILL AS SIMPLE -- JOLLY SENSIBLE. IS NOT :00 A.M. IN LONDON. OUR TOP STORY TODAY, THE FED MAKES IT CLEAR DESPITE THE BANKING CRISIS, FIGHTING INFLATION IS STILL HIS MAIN CONCERN. MORE CENTRAL BANKS MOVES. SWISH -- SWISS NATIONAL BANK JUST CAME OUT AND BOE LATER TODAY. CITIBANK CEO WARNS MOBILE MONEY MARKS A CHANGE FOR BOTH BANKERS AND REGULATORS. WELCOME TO BLOOMBERG SURVEILLANCE: EARLY EDITION. IN INVESTORS AND TRADERS WAKE UP TO 25 BASIS POINTS, A DOVISH HIKE IS THE INTERPRETATION. IN SECONDS, THE BANK AS WELL. THE NORWEGIAN CENTRAL BANK RAISING IS BENCHMARK INTEREST RATES TO 3% IN LINE WITH ESTIMATES. THE BANK OF ENGLAND EXPECTS TO