The Bank of England warns companies to prepare for shocks in global financial markets, emphasizing a strong British banking system amid increased volatility.
Despite a brief spike in volatility and falling equity indices, the UK banking system demonstrated resilience, yet the global economic outlook remains precarious due to geopolitical tensions.
FPC noted that the markets are vulnerable to sharp corrections, impacting credit availability for UK households and businesses, as investors react to short-term global developments.
Increased geopolitical conflicts and a weaker US job report have highlighted vulnerabilities in global financial markets, with the potential for significant impacts on the UK economy.
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