Following a quarterly meeting, the Bank of England’s (BoE) Financial Policy Committee (FPC) said on Tuesday, “some risky asset valuations appear 'stre
Following a quarterly meeting, the Bank of England’s Financial Policy Committee said on Tuesday, “some risky asset valuations appear stretched, such as US tech stocks and Dollar high-yield and investment-grade bonds.” Additional takeaways Overall risk environment is challenging and near-term global growth prospects are subdued. Will closely monitor developments in Hong Kong and mainland Chinese property markets for UK bank spillover.
35-year term residential mortgages have seen a notable increase. No significant net sales by buy-to-let landlords, but higher costs passed on to renters. UK banking system remains resilient, even if economic and financial conditions turn substantially worse. FPC maintains counter-cyclical capital buffer rate at 2%. Some FPC members suggested raising CCYB to build resilience, case for lowering CCYB also discussed. FPC stands ready to vary CCYB in either direction as risk environment develops.
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Israel war: Mitch McConnell lays out four-step plan following terrorist attackJulia Johnson is a politics reporter at the Washington Examiner, where she also worked as a trending news editor. She was born and raised in New Jersey before earning her bachelor's in political science in 2021 from the University of South Carolina, with a minor in mass communications. Follow Julia's X for updates on her reporting: JuliaaJohnson_
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