moving beyond banks the boe says the broader corporate sector should remain resilient to higher interest rates and a slowdown in growth albeit with some pressure on smaller companies “the uk corporate sector is expected to remain broadly resilient to higher interest rates and weak growth nevertheless higher financing costs are likely to put pressure on some smaller or highly leveraged firms” it adds that though corporate insolvencies have been increasing they are still low compared to the longterm average “the large majority of the increase in insolvencies has been among very small firms that hold little debt and a high proportion of the debt they do hold is fixed at low rates and government guaranteed more broadly the corporate sector has been repaying debt and its nearterm refinancing needs appear limited”