Closing post
Time for a recap.
The Bank of England has warned that risks to the global economic outlook have increased.
In its latest financial stability report, the BoE cited the “material” global risks associated with geopolitical tensions, global fragmentation, and pressures on government debt levels.
It warned:
Uncertainty around, and risks to, the global economic outlook have increased. As the UK is an economy with a large financial sector and in which trade is significant, these risks are particularly relevant to UK financial stability.
The Bank added that cybercrime is a significant threat, and also insisted that Donald Trump’s election isn’t the only factor driving up fragmentation risks.
The latest check on financial stability also highlighted that half of households will be paying higher mortgages by 2027…
….and that firms in shadow banking sector risk triggering £17bn asset sell-off, says Bank of England.
In the retail world, shops have been offering Black Friday bargains as they try to drum up trade after a tough November.
Nationwide reports that the number of purchases by 2pm was 12% higher than on Black Friday 2023.
Amazon staff have been striking, with protests in New Delhi and in Germany.
UK mortgage approvals rose in October to the highest since August 2022.
Updated
Black Friday is firmly up and running in the US, but these photos from New Jersey suggest there’s not a stampede to stores:
