BOE's Bailey Says Global Economic Outlook Has Deteriorated Markedly

The global economic outlook has worsened, with tighter financial conditions due to central banks' monetary policies in response to inflation. The Russia-Ukraine conflict further impacts the global economy. Despite these challenges, the UK banking system remains resilient, with sufficient capital and liquidity to support lending, even in severe economic scenarios.

What are the implications of Russia's invasion of Ukraine on the global outlook?

Despite the weaker outlook, what is the current state of the UK banking system?