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Bank of England's Carney Sees China Bank Risk in Rebalancing Act

  • Governor expects to see rise in China's non-performing loans
  • BOE downgraded U.K. economic outlook on weak emerging markets
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BOE’s Carney on Rates, The Fed and China

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Mark Carney warned that the slowdown in China as it tries to rebalance risks hurting its banking sector as well as threatening growth in economies such as the U.K.

“These processes never proceed smoothly and we’ll all have to deal with the bumpiness that comes with it,” the Bank of England governor said in an interview with Bloomberg on Thursday. “It’s the second-biggest economy in the world.”