Bank of England: Eight major risks facing UK economy

Inflation expected to pass 11%

The Bank of England has identified eight major risks to the UK economic outlook, including China, recurring Covid and, predominantly, the ongoing war in Ukraine.

According to the central bank's latest Financial Stability Report, released on Tuesday (5 July), the outlook for the UK economy this year was weak, declaring it had "deteriorated materially". It identified eight key risk factors "that could adversely affect UK financial stability". Nadhim Zahawi appointed chancellor following Sunak resignation Top of the list of concerns was the continuation, and potential worsening, war in Ukraine, which has had far reaching social and economic consequences globally. The BoE said that developments related to the Russian invasion of Ukraine "are...