Bank of England tightening continues
In February the Bank of England’s Term Funding Scheme for commercial banks runs out. This may well curb credit further. The latest survey shows Bank action to reduce consumer borrowing is having an impact with commercial banks beginning to rein in offers of new credit. There is also a fall in new buyer enquiries for homes as the Bank talks of higher interest rates and less credit.
Source: http://johnredwoodsdiary.com/2017/10/18/bank-of-england-tightening-continues/
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