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Bank of England warns on risks from current account deficit
The UK’s large current account deficit could cause financial markets to turn against the British economy in a time of stress, the Bank of England has said. The Bank’s financial policy committee (FPC) discussed the current account deficit at its most recent meeting in March and decided to keep it under close review, the meeting minutes showed. The current account deficit, which reflects the gap between money paid out by the UK and money brought in, was more than half as big as expected for the fourth quarter last year. The £22bn deficit compared with £14bn forecast by economists and was only slightly less than ... (full story)