BoE ups capital buffers as consumer credit outstrips income
“Pockets of risk” including effects of Brexit negotiations and car finance warrant attention, BoE says
The Bank of England has raised its countercyclical capital buffer amid concerns on the rapid growth of consumer credit and possible effects stemming from the UK’s negotiations on Brexit.
The central bank raised the buffer from 0% to 0.5% today (June 27), and governor Mark Carney indicated during a press conference it would likely increase another 50 basis points when the financial policy committee (FPC) meets next, in November.
The BoE is keeping its attention on “pockets of risk” that could
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