The Bank of England said on Wednesday that Britain's financial system and households were proving resilient to the risks posed by higher interest rates, although it would take time for the full impact to feed through.
LONDON, July 12 (Reuters) - The Bank of England said on Wednesday that Britain's financial system and households were proving resilient to the risks posed by higher interest rates, although it would take time for the full impact to feed through.
"The proportion of households with high debt service ratios ... has increased and is expected to continue to do so through 2023. But it is projected to remain some way below the historic peak reached in 2007," the BoE said in its half-yearly Financial Stability Report.
BoE Governor Andrew Bailey will present the report's findings in a press conference at 0800 GMT. (Reporting by David Milliken; Editing by Kate Holton)
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