Sep
20
Carney’s 200 Billion Reasons to Fret About Consumer Debt
By-
BOE stability officials hold quarterly meeting this week
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Easy access to loans, credit cards fueling debt binge
Bank of England Governor Mark Carney has 200 billion reasons to keep an eye on consumer borrowing and he’s about to find out just how concerned he should be.
With household credit rising five times faster than earnings, alarm bells are ringing and regulators have fast-tracked part of their annual stress tests to get an insight into the resilience of banks to a sharp jump in defaults. Carney and his Financial Policy Committee will have that crucial information when they gather for their quarterly meetings this week…
Carney’s 200 Billion Reasons to Fret About Consumer Debt
