Date:
30 November 2016
Media:
BBC News
What
happened?
The
governor of the Bank of England, Mark Carney, has given a warning
about the high level of debt in UK households.
In
particular he said that consumers were borrowing more on their credit
cards and other unsecured debt.
Whom
and where it affects?
It
affects mainly England but its consequences can be derived in the
rest of Europe.
What
sort of public or private institutions are involved?
The
Bank of England.
Why
is it important for Banking and Finance?
Because
the Bank's Stability Report showed that the overall ratio of
household debt to income was 133% in the second quarter of 2016.
However the Bank said that was high by historical standards, although
it was not as high as in the financial crisis.
What
do you think will be the consequences in the foreseeable future?
In
principle none, since the figures are inferior to those of the world
crisis, but taking into account the weight of England in the world
economy would have to be cautious.
Key
words:
Household
debt, borrowing,
credit card lending, Stability Report.
No comments:
Post a Comment