The UK’s major banks are “resilient” in the face of global turmoil, but households and businesses still face the risk of higher borrowing costs as a result, according to the Bank of England.
The central bank’s Financial Policy Committee (FPC) added that there is an “urgent need” to bolster market-based finance, such as some hedge funds, amid market volatility.
It came as the Bank said that UK households remain “squeezed” by higher living costs and mortgage payments.
