Posted by AdviserDirect on 07/12/2019

UK banks could withstand Brexit and trade war double-whammy, says Bank of England

UK banks could withstand Brexit and trade war double-whammy, says Bank of England

Britain's financial system is strong enough to cope with the shock of a trade war-driven global slowdown even if it coincides with a "disorderly" Brexit, the Bank of England has said.

The bank said in its Financial Stability Report that the risk of crashing out of the EU had increased since the start of the year while rising trade tensions posed higher risks to the global outlook.

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