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Downside global risks have increased - BOE FPC Statement

FXStreet (Mumbai) - The Bank of England (BOE), in its latest quarterly Financial Policy Committee statement published on Friday noted, although the economy’s outlook for financial stability remains challenging owing to the risks emerging from China, the UK banking sector resilience continues to improve.

Key Quotes from the report:

FPC makes no new recommendations in quarterly financial policy statement

Financial stability outlook remains challenging, China and emerging market risks higher

Prospects in China and other emerging market economies (EMEs) have softened since July 2015 and downside risks have risen.

These risks in both China and EMEs more broadly affect UK financial stability through the direct exposures of UK banks

Weighing against these risks, there has been continuing improvement in the resilience of the banking sector.

The immediate risks in relation to Greece and the euro area have fallen somewhat from their acute level at the time of publication of the July 2015 Financial Stability Report (FSR).

Overall, the FPC judges that the outlook remains challenging. While the resilience of the financial system has continued to improve, downside risks have risen.

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