1017 GMT - The U.K. banking sector will face challenges from the risk of a slowing economy in 2025, analyst Michael Hewson says. Businesses will adapt to the higher costs introduced at the recent budget announcement, the former CMC Markets analyst says. Household budgets could be squeezed as more mortgages are due to roll over and be refinanced at higher rates, despite the peak in interest rates, he says. Next year will be a key test for banks' resilience after a year in which NatWest and Barclays lead gains, while Standard Chartered continues its turnaround. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
December 27, 2024 05:17 ET (10:17 GMT)
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