Peter Rollings commenting on today’s figures from the British Bankers’ Association

This should be a serious wake up call for the government, FSA and Bank of England. We’re really starting to see how bad the situation could get if we continue to rely solely on market forces to get the housing and mortgage markets moving again. 

We’re being fobbed off with promises of action from the government, but it is needed NOW, not three months down the line.  The job of the MPC is to be ahead of the game, not catching up.  People are already severely curbing their spending and these figures provide yet more evidence that new mortgages have sagged.   We must see a cut in interest rates in October if we are to avert worse trouble.

Comments (0)

Subscribe to this comment's feed

Name

Email

Website

Title

Comment

smaller | bigger

Subscribe via email (registered users only)

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment