BOE says Brexit is the main domestic risk to financial stability
The Bank of England releases its financial stability review

- Domestic risks excluding Brexit remain standard overall
- Judges that UK banking system could support economy through a disorderly Brexit
- UK consumer credit growth remains ‘rapid’
- Global risks are material and are increasing
- Emerging markets, China debt, US leverage, and Italy among those risks
The report was scheduled to be released an hour ago but was delayed. Carney is due to speak on the report later on at the top of the hour instead. Nothing of note pertaining to monetary policy as this mainly concerns the banking system and financial risks – so not much of a surprise that the emphasis is on Brexit uncertainty.
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