Bank of England says outlook post Brexit still challenging

22nd September 2016

The Bank of England has released the minutes of its Financial Policy Committee (FPC) continuing to warn of uncertainty following Brexit.

The Bank’s FPC has reviewed developments since its meeting on 1 July and since the 23 June referendum.

The committee noted that financial system has demonstrated resilience to spikes in uncertainty and risk aversion and that core financial markets functioned effectively despite initial sharp price moves and particularly high volumes of transactions relative to normal levels in some markets.  Bank funding conditions remained broadly stable.

It says this reflects the resilience of the financial sector following measures taken since the financial crisis. The FPC says it judges that the current outlook for financial stability in the United Kingdom remains challenging.

The following are some of the main points.

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