"UK Lenders Face Rising Impairments, Warns Bank of England Deputy Governor"

Bank of England Deputy Governor Sam Woods has stated that impairments are increasing among UK lenders due to rising inflation and subsequent interest rate hikes. Despite the resilience of the economy, regulators are closely monitoring potential stresses in the banking sector. The Prudential Regulation Authority estimates that just over 1% of mortgages are in arrears, a relatively low figure compared to previous years.