The Bank of England has said that the steep rise in personal loans compared to the near-negligible household income growth could put the economy at risk if debts were to spiral out of control. The growth of personal loans According to BoE’s Financial Stability Director Alex Brazier, credit card balance transfers, outstanding
A word that’s been making the rounds recently is “shrinkflation”, used to describe how everyday items have remained the same price but the size has gone down, leaving consumers scratching their heads as they wonder how the things they bought just don’t go as far as they used to. Shrinkflation According to
It was revealed that the UK government borrowed more than expected, rising £2bn from June 2016 to £6.9bn in June 2017. This blow to the Tories fiscal plans raises questions on the state of the public sector’s finances, and therefore the state of the UK’s economy. The UK’s deficit Austerity has been
The financial news out of the UK has been fairly dire as of late, with the weak pound putting pressure on consumers, the Bank of England holding its rates, and inflation continuing to outpace wage growth. But the advantage of trading on the Forex market is that you’re looking at all the
The slight kerbing of inflation due to low fuel prices should have been welcome news to consumers, but it turns out this inflation dip has actually weakened the pound even further. Low fuel prices see pound dip It was revealed that inflation had dropped 0.3 per cent in the last month. This
British consumers received a minor reprieve from the exorbitant inflation increases this year, with inflation dropping from 2.9 per cent in May to 2.6 per cent in June. This drop was due to lower fuel and diesel prices, but the reprieve is not set to last. Unexpected inflation slowdown Fuel prices have
We’ve discussed at length the reasons to get into Forex trading, but the main one that peaks peoples interest is finding out that it’s tax-free. Now we’re going to tell you why you don’t need to pay the tax man when it comes to making money on the Forex market. Why Forex
The last three growth reports have been weaker than expected, which is stoking fears about the UK’s economy. If inflation continues to rise, while wages stagnate and the pound continues to drop, then Britons could be in a bit of a bind. That’s why it’s now more important than ever to make
It was revealed in June that more and more people were relying on credit cards (as well as overdrafts and loans) to cover the shortfall that was left by the weakened pound, the inflation rise, and their wage stagnation. That reliance is now coming home to roost. Default rates on credit cards
There had been hopes that the Bank of England would raise interest rates at their next discussion on the matter, but those hopes were dashed when Deputy Governor Ben Broadbent said he was in favour of holding rates where they were. What does this interest rate hold mean? As it stands, interest
