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Financial Times (July 29)

2023/ 07/ 30 by jd in Global News

“Inflation is falling for a number of reasons “beyond the Fed’s control,” like an easing of the worst impacts from “the pandemic and the war in Ukraine.” But the Fed’s rate hikes have effectively “reduced demand for credit.” The results can be seen in mortgage debt and car loans. “Overall, growth in non-revolving credit—the loans you take out just once, like a mortgage—is now just below zero.” There’s one snag on the revolving credit side, where credit growth is still “coming from credit cards.”

 

American Banker (November 9)

2022/ 11/ 09 by jd in Global News

“Lenders made it harder in the third quarter for both consumers and businesses to access credit,” and this trend looks likely to continue. “If the U.S. economy falls into a recession, more than 80% of banks said they would ‘somewhat’ or ‘substantially’ tighten lending standards for credit cards and loans backed by commercial real estate. More than 70% of banks said they would do the same for auto, commercial and industrial and residential real estate loans.”

 

WARC (December 4)

2019/ 12/ 05 by jd in Global News

Fully 45% of Malaysia’s population is made up of Millennials, “many of whom are digital natives.” As a result, “businesses looking to expand in Malaysia need to offer digital wallet payment options, as these cover a much greater proportion of the population than credit cards.” The diverse e-money options are dominated by outsiders, only 5 of the 46 e-money licenses “have gone to players in the traditional banking space.”

 

The Guardian (July 17)

2017/ 07/ 18 by jd in Global News

“Desperate with hope,” many Brits are “drawn to the crescendo of signals that Brexit can’t and won’t happen, to stories that say the sheer impossibility of leaving the EU gets clearer by the day.” The signals are everywhere. “Fall off the EU cliff and put a third of our just-in-time food supply at risk. No flying to the EU, warns Ryanair, as easyJet moves its new HQ to Austria….car sales are down 10%, credit card debt up 10%, wages are falling behind rising inflation.” Yet even as the UK’s economy “sinks, while the EU’s charges ahead,” there is no guarantee that Brexit will ultimately prove reversible.

 

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