Wednesday, September 29, 2010
Seconds out, round eighty three: Techie versus HPW
"UK consumers repaid more unsecured debt than they took out in new loans in August, the Bank of England said. Net consumer credit - which includes credit card borrowing, overdrafts and personal loans - fell by Â£120m, the biggest drop since November 2009. The figures come shortly after the Bank's deputy governor, Charlie Bean, suggested savers go out and spend some of their savings to boost the economy. The number of mortgages approved for house purchases also dipped slightly. There were 47,372 home loans approved in August, some 974 fewer than the previous months, the Bank's figures show. This was the fourth monthly drop in a row."