All the day’s economic and financial news, as British banks plan to tighten unsecured credit and chartered surveyors warn that Britain’s housing market is coolingLatest: UK lenders plan consumer credit clampdownDefault rates rise as households struggleSterling falls as Barnier says Brexit talks are deadlockedInvestors and manufacturers want Brexit progress, fastEarlier:UK housing market stalls as London prices fallInterest rate fears are hitting demandLondon surveyors are pretty gloomy 3.03pm BST On China, Lagarde welcomes recent moves by the Chinese central bank to reduce credit, to avoid an explosion of bad debt.The continued reining in of credit in China, to control financial risks, would be ‘most welcome’ she adds. 3.02pm BST Christine Lagarde points to Fintech as an opportunity. There are “all sorts of financial innovation and disruptions” she says (but she’s not specifically talking about Bitcoin).She also warns that a ‘tightening of the financial markets’ could hurt emerging markets, if it sparks a capital outflow. Continue reading…
Via: Consumers face credit squeeze as lenders tighten loan availability – business live
Categories: English News