UK urged to brace for economic storm ...News

Russia Today - Economy
UK urged to brace for economic storm
source : Russia Today ( News ) () 23
The Bank of England has issued a bleak economic outlook amid spiraling inflation The Bank of England (BoE) warned on Tuesday that the economic prospects for Britain have deteriorated since the start of the year, calling on the country’s lenders to set aside more capital to absorb shocks in the markets. “The economic outlook for the UK and globally has deteriorated materially,” the BoE said in its Financial Stability Report. “Prices of essential goods such as food and energy have risen sharply in the UK and globally, and the outlook for growth has worsened,” it added, blaming the crisis on the conflict in Ukraine.A

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