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UK Central Bank Sees Rise in Credit Card Limits

January 16, 2012 by CentralBankNews   Comments (0)

Credit card limits rose in the final three months of 2011, according to the latest Credit Conditions Survey from the Bank of England, the UK's central bank. This wasn't the only increase to appear in this Survey, which also pointed to the growth in the availability to households of unsecured credit in the final quarter of the year - growth which we can expect to see (a little) more of between now and March. The first quarter of 2012 should also see a slight increase in demand for 'other unsecured lending' (i.e. other than credit cards, where we can expect a drop). 
The predictions in the Survey aren't set in stone, of course. They're subject to developments in the economies of the UK and other countries. In fact, lenders specifically commented that potential problems in the Eurozone 'pose significant downside risks' and could work against expected growth in the availability of unsecured credit over the next three months.
The most recent figures from the Bank of England show that total credit card debt in the UK stood at £56.2 billion at the end of November 2011. At that time, a further £151.3 billion was owed in 'other' unsecured loans and advances.
The Bank of England publishes its Credit Conditions Survey every three months. Understanding 'trends and developments' in the world of credit conditions is a key part of the Bank's mission to 'maintain monetary stability and financial stability', so it surveys lenders every quarter.
It asks them what they've noticed about lending conditions over the last three months, and what they expect to see over the next three.

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[Review] Clarity of Central Bank Communication About Inflation

January 16, 2012 by CentralBankNews   Comments (0)

The International Monetary Fund (IMF) has just released a working paper on central bank communication on inflation, which examines whether the clarity of central bank communications have changed with the economic environment.  The key finding of the paper is that there are "no strong indications that central banks were less clear in explaining their policies when faced with higher uncertainty or a less favorable inflation outlook."  However, the authors note that the global financial crisis "did have a negative impact on clarity of central bank communication."  The paper's authors are: Bulir, Ales; Cihák, Martin; and Jansen, David-Jan.

Reference: Bulir,A., Cihák, M., & Jansen, D. (2012) Clarity of Central Bank Communication About Inflation. International Monetary Fund, Working Paper No. 12/9

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Qualche risorsa per i freelance

January 16, 2012 by Roberto Grossi   Comments (0)

Sei un freelance? Allora ti potrà essere utile queste elenco di blogs (in inglese) dove si condividono consigli, risorse, strumenti per i freelamce.


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Consumers will pay for better online banking

January 16, 2012 by skinnercm   Comments (0)

PwC conducted research with almost 3,000 banking customers from a range of segments across markets to discover their expectations of banking in the digital age.


Eurocrash, the musical!

January 16, 2012 by skinnercm   Comments (0)

One of the good friends of the Financial Services Club is David Shirreff, European Business Correspondent for the Economist.