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U.K. More Vulnerable to Financial Shocks Than Most, BOE Says

  • Openness called a ‘double-edged sword’ for the economy
  • Paper shows scale of overseas trade and foreign assets in U.K.
Workers in City of London Financial District as Furlough Ends
Photographer: Chris J. Ratcliffe/Bloomberg

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The U.K. is more vulnerable to financial shocks than most other nations, a Bank of England study concluded, indicating that openness to trade and banking poses some risks.