Bank of England sees 'challenging' outlook for UK financial stability
Source: Reuters
30 November 2016
LONDON - Britain's financial system faces a "challenging" outlook due to risks posed by leaving the European Union and other factors including the recent U.S. election, the Bank of England said on Wednesday.
The danger posed by leaving the EU depended on how smoothly the process went, and whether businesses in the EU lost access to British financial services, which would hurt both Britain and the EU's economy, the BoE said.
The central bank's Financial Policy Committee also flagged a wide range of other risks. The U.S. presidential election "reinforced existing vulnerabilities".
"Following the U.S. election, there have been significant changes in global asset prices," the FPC said in its half-yearly financial stability report.
Read more: https://uk.news.yahoo.com/bank-england-sees-challenging-outlook-uk-financial-stability-070216508--sector.html
