Bank of England tells lenders to brace for economic storm
Fox News
The Bank of England warned of economic challenges on the horizon, and on Tuesday instructed banks to ramp up capital buffers to ensure they could weather the storm.
"The global economic outlook has deteriorated markedly. Global financial conditions as a whole have tightened significantly," Bank of England Governor Andrew Bailey told a news conference after the BoE published its half-yearly Financial Stability Report.
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