Commenting on the temporary easing of bank capital rules announced by the Bank of England in its latest Financial Stability Report, Dr Adam Marshall, BCC Acting Director General, said:

“The Governor of the Bank of England, once again, is offering clear leadership and boosting business confidence at a time of political and economic uncertainty.

“Mark Carney’s decision to temporarily ease bank capital rules will help to improve liquidity and sustain vital credit flows to businesses and consumers. The Bank of England must continue to keep a watchful eye on credit conditions, particularly for young and high-growth businesses, who tend to be the very first frozen out of the financial system when conditions deteriorate.

“The Bank of England is acting in a clear and resolute fashion. Government must do the same, so that businesses can continue to trade, invest and take risks – as many have done both before and after last month’s vote.”