Governor of the Bank of England Andrew Bailey (PA)
(Picture: PA Wire)The Bank of England (BoE) is to test the ability of the UK financial sector to withstand deep recessions in the “UK and global economy” later this year as part of its regular stress tests sounding an ominous note for Britain.
It said that banks must increase the amount of money they set aside to absorb shocks to head off further economic dives.
