4 Sep
2021

Tight credit holding back UK recovery

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Show Comments ▼ whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org LENDING remains too low and is “holding back the economic recovery,” the Bank of England said today.The news comes after the Bank reported that mortgage approvals fell for six successive months to October. Tight credit conditions continue to hold back recovery in the housing market, analysts say.Yet banks are ahead of schedule in repaying the loans given to improve their liquidity, according to the Bank’s quarterly report, released today.The report revealed that £75bn of the £185bn loaned to banks was repaid by the end of November. In September £57bn had been repaid.The Special Liquidity Scheme (SLS) was launched in April 2008 and expires in January 2012, with the Bank insisting that it will not be extended or replaced.After three years of support “each institution should be in a position to fund itself through normal market mechanisms,” said the Bank’s Paul Fisher, who also sits on the Monetary Policy Committee (MPC).Banks are expected to reduce their use of the loans in “a smooth fashion,” to avoid a funding crisis in the final months of the loan this time next year.Yet lending, particularly to small business and individuals, “has remained subdued even as economic activity has begun to recover,” today’s report states.And low rates of lending are more due to tight credit conditions than a reluctance from businesses and households to borrow, it says. “Weak lending is more likely to dampen the recovery than weak demand,” it says.Confidence in the availability of credit has taken a hammering, according to survey conducted for the Bank in September. Compared to last year, an extra five per cent of people were concerned about the situation. More than one in five people were worried about being denied credit, the survey said.The “persistent tightening in credit supply” is one of the main policy issues facing the UK, the report says.“The Bank will continue to monitor developments in bank lending and the banking sector closely.” Tight credit holding back UK recovery whatsappcenter_img Share KCS-content Sunday 12 December 2010 10:50 pm Tags: NULL last_img read more

Read More
4 Sep
2021

Middle East enters critical few days

first_img Share Sunday 30 January 2011 11:28 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Tags: NULL Show Comments ▼ Middle East enters critical few days whatsapp WE must all hope that the protests in Egypt – and increasingly, across the Middle East – will lead to a blossoming of democracy and individual liberty in a region scandalously deprived of freedom for so long. There is nothing more uplifting than to see mass uprisings against hated dictators; in moments such as these, there can be no doubting the liberating power of modern technology.Unfortunately, we also know from history than not all revolutions are an improvement – in some cases, one brutal tyranny is replaced by another. Investors and markets will thus remain on tenterhooks, with equity, debt, commodity and currencies all affected by increased risk-aversion. Oil prices could spike further if traders fear that trade flows could be disrupted. Geopolitics is always the wild card in economics. Many people had been predicting another major crisis in the Middle East – yet hardly anybody thought it would be triggered by a revolution in Tunisia. The week ahead will be crucial.LINGUA FRANCAAS the world changes, emerging markets become all-powerful and the West declines, what we must teach our children must also change. One area where this is definitely true is foreign languages, an area in which the UK has an especially appalling record. The problem, however, is not merely that too few people speak, read and write in a language other than English – but that when children actually do learn another tongue, they tend to be guided towards the wrong ones. They should be learning Mandarin, Spanish, Hindi or Arabic, rather than French (ironically, the only one of those I myself master) or even German. There are, of course, good as well as bad reasons for the UK’s general monolingualism. The fact that English is the lingua franca – a near-universal auxiliary language and the primary means of communication in business – means that the costs of not knowing any other language are much lower for Brits than they are for the Dutch or the Poles. And while it would be great to see more people learning more languages, especially for the increased cultural understanding that bi- or trilingualism inevitably gives one – there are other, even more important priorities. For instance, ensuring that more people learn to write and spell English properly would be a good start, given the preposterous inability of millions of native speakers to master apostrophes and other basics. A language is primarily a means of communicating – if one has nothing to communicate, and no knowledge to share, it doesn’t really matter how many languages one can speak. Technical knowledge, better education in science and mathematics, practical skills – and my own favourites, better knowledge of economics and finance – would be more useful to an 18-year old than a smattering of one of the minor European languages. A better understanding of history, law and other subjects would also be great.Some schools now offer Mandarin. But the stark fact is that the languages spoken in the fastest-growing parts of the world – Asia, Latin America, the Middle East – are spoken fluently by no more than a tiny proportion of Britain’s 18-year olds. Yet when they turn 40, it will be as common for them to work for a Chinese or Indian or Brazilian firm as it is to work for American or German bosses today. Our schools need to adapt, and [email protected] me on twitter: @allisterheath KCS-content whatsapplast_img read more

Read More