March 27, 2024 10:30 GMT
MNI BRIEF: BOE's FPC Sees Challenging Risk Environment
(MNI) LONDON
BOE FPC says economic outlook has improved since December, but risk environment challenging as global stability concerns grow.
The financial system risk environment remains challenging despite an uptick in the central economic outlook, the Bank of England's Financial Policy Committee said Wednesday.
Publishing the minutes of the March FPC meeting, the bank said global concerns include weak CRE markets in developed markets, fallout from a weaker China property market and, given tighter financial conditions, high public debt levels in advanced economies.
However, the FPC judged the UK banking system as resilient and able to support households and businesses, even if economic and financial conditions worsen more than currently expected. The FPC maintained the counter-cyclical capital buffer (CCyB) at 2%
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