British Bankers Association
The British public, in aggregate, paid down existing mortgages over the month, rather than taking on new home borrowing.
Does this matter for the wider economy? Interesting the OBR suggested in March that it does not.
Three years on from the beginning of the credit crunch, banks are still squeezing small businesses in order to bolster their own financial position. And according to the Bank,this is having a detrimental effect on the economy.
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