Slump in consumer credit and supply of money
Various unsecured forms of lending as well as credit card in relation of the British consumers has seen a sharp downfall in the month of December in the last year that is in 2011. This down fall has been to a very large extent in past two decades. The talks are doing round that the Bank of England in the coming time would be putting in more capital to keep the economy up to the mark and saving it from getting into the trouble of recession.
There are has been a sharp downfall as far as the supply of money into the economy of the country is concerned. From the month of October in the last month only 75 billion pounds have been put into the terms of asset purchasing and quantitative easing. This sum of money is not enough for the betterment of the economy. The economy has already facing a minor recession and is this thing continues there are chances that the trouble of recession can increase manifolds, which really needs to be taken care off.
At the time of the last month, the credit of the consumers had come down a lot by almost around 400 million pounds. This has been the sharpest down fall that has ever been witnessed from the time of the year 1993. This was also reported by the bank. One of the major reasons for the downfall in the economy of the country of Britain is the weak capacity of the consumers in the terms of spending. The prices are going high up and so the consumers therefore are cutting on their capacity on spend money for the maintenance of high standard of living. This thing has also leaded to various other troubles as well that has lead to the level of confidence going down. Apply for same day loans no credit check @ http://www.samedayloansnocreditcheck.me.uk/ and get payday before your salary.
Economists were of the view because of this downfall in the economy it is quite possible that the Bank of England is going instill in more amount of money into the economy so that it gets upgraded again. There are talks that the bank may make an announcement that they are going to put in a sum that is not less than 50 billion pounds to support the expansion that has been launched for the betterment of the economy. Steps are also being taken to make sure that the consumers are also making the payment of all their debts that they own to the banks.
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