Q1 Slump in Consumer Borrowing Expected in UK

A recent Bank of England survey claims that British banks can expect consumer borrowing to evaporate in the first quarter of 2019 as a weak economic outlook keeps households from taking on new borrowing. British lenders surveyed actually stated that the fall in the demand for credit card lending would be greater than it was during the financial crisis. The current political turmoil in Westminster is also cited as a key factor in the survey’s findings as well. Source.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!