The Bank of England released its financial stability report:

• BoE plans to cap mortgages beginning from October;
  
• 85% of mortgage approvals would need to be below 4.5 times of the borrowers' income;
  
• BoE plans to test banks, whereby borrowers could repay the mortgage even if interest rates rise to 3%;
  
• No new mortgages around the limit of 4.5 would be allowed.
  

The Bank of England Governor Mark Carney said at the press conference today:

• The recovery in the U.K. economy is strengthening;
  
• The housing market is the main risk to the U.K. economy's stability.