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Financial stability report full of mixed messages - ArchOver PDF Print E-mail
Wednesday, 28 June 2017
Today’s financial stability report from the Bank of England called for banks to put aside an extra £11.4bn to deal with any future economic slowdown.

Following on from this news, Angus Dent, CEO of P2P lending platform, ArchOver, said: “The latest financial stability report from the Bank of England is full of mixed messages.

“On the one hand, the governor says that rates should not rise in the short-term and the Bank is continuing with economic stimulus to support growth. On the other hand, the Bank is nuancing this with higher lender criteria.

“Tightening consumer lending will always have an adverse effect on business and British plc won’t be reassured by any of the measures in today’s report.

“It’s an obvious thing to say but consumers buy what business makes. If they buy less then business will suffer. Hearing that customers won’t be able to buy so easily on credit, increases uncertainty and will delay investment decisions and refinancing agreements even further.

“This reflects the wider problem that Britain is facing – there is a lack of consistency plaguing businesses that is driving more uncertainty. And uncertainty ultimately leads to a decrease in investment at a time when we need to be focused on fostering the health of Britain’s businesses.”

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