Moscow. 5’th of July. INTERFAX.RU – The outlook for the global economy has „significantly deteriorated” after a jump in commodity prices led to accelerated inflation around the world, the Bank of England said in a report. It is reported by Bloomberg.
The central bank plans to conduct annual bank stress tests in September to assess the likelihood of a „deep recession and further interest rate hikes.”
„Given significant uncertainty, the Financial Policy Committee (Financial Policy Committee, FPC) of the Bank of England will continue to monitor developments in the situation,” – assured the head of the Bank of England Andrew Bailey.
At the same time, the Bank of England believes that most British households and businesses will be able to cope with the increased burden on their finances, despite the rise in inflation and borrowing costs.