FXStreet (Delhi) – Research Team at TDS, notes that the FPC issued their semi-annual Financial Stability Report this morning, as well as the annual bank stress test results. Key Quotes “There was no change to the countercyclical capital buffer (CCyB), but the FPC did signal that it could soon start rising from 0% to 1%. Governor Carney stressed during the press conference that any increase in the CCyB would be about mitigating tail risks in the economy, and not a substitute for monetary policy. All seven banks passed the stress test, but not without two banks needing to boost their capital in order to do so.” “The UK manufacturing PMI was also out, showing a much weaker decline than expected, falling to 52.7 in November from 55.2 in the prior month. A pullback in output growth in the intermediate goods sector was particularly severe (though it still remained in expansion territory), while a decline in purchasing prices also weighed on the headline. Employment and export orders did not deteriorate on the month, suggesting that the more important activity-related measures weren’t as bad as the headline suggests.” For more information, read our latest forex news.