Bank of England tells lenders to brace for economic storm ...Middle East

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Bank of England tells lenders to brace for economic storm
source : Devdiscourse ( Middle East ) () 59
The Bank of England warned on Tuesday that the economic prospects for Britain and the world had darkened since the start of the year and told 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," Bailey told a news conference after the BoE published its half-yearly Financial Stability Report (FSR).

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