According to new data from the Bank of England, consumer borrowing increased by its fastest rate for more than a decade in the run-up to the festive period, reaching levels not seen since the peak of the financial crisis. Consumer debt rose by 10.8 percent in total during the past 12 months – with credit card borrowing hitting a record high.
The emergence of blockchain has breathed new life into the ideas of economists Adam Smith, David Ricardo and Milton Freidman, and could potentially trigger a revolution in central banking, reads an article in the World Finance, 21st Dec 2016
Wow! 2017 is kicking off with a bang - MPs are doing an inquiry into monetary policy!
The sustenance of economic systems often relies on delicately balancing two perilous extremities. When looking at inequality, for instance, one finds that the lack of it will lead to an economy’s atrophy, while its excess may lead to unsustainable tensions. Since the end of the most recent financial crisis, developed countries have been inclined towards the latter scenario.
Did you know that every UK citizen could have received £6834 if the money created by the Bank of England under QE programme had gone to people, instead of financial markets? Or if just £10bn were created and spent on the construction of affordable housing, it could boost GDP by up to £28bn?