Since our July Financial Stability Report (FSR), the outlook for growth and unemployment in the UK and globally has deteriorated further. Prices have continued to rise rapidly, in considerable part reflecting steep increases in energy and food prices. In response to these price rises, central banks around the world, including the Bank of England, have been increasing interest rates. These rate rises, and the expectation that they will rise further, have caused the cost of borrowing to rise for households and businesses. There have been large and rapid moves in financial market asset prices. The price of certain ... (full story)