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Dr Rebecca Harding, Chief Economist at the BBA, blogs about trends in the latest High Street Banking statistics.
Dr Rebecca Harding, BBA Chief Economist, said:
“This month’s BBA High Street Banking statistics are the first set of borrowing figures gathered since the EU referendum. The data does not currently suggest borrowing patterns have been significantly affected by the Brexit vote, but it is still early days. Many borrowing decisions will also have been taken before the referendum vote.”
“We are also clearly still a nation of shoppers and the Brexit vote has done nothing to change the fact that we use credit cards for short-term purchases. Strong retail sales figures appear closely associated with strong consumer credit growth.”
“Businesses also appear to be borrowing as usual: the upward trend that characterised the first few months of this year is continuing. June’s data looks like a blip, probably caused by pre-Brexit nervousness. But it is too early to tell how the data over the next few months will reflect the result of the decision to leave the EU.”
The BBA’s Chief Economist Rebecca Harding blogs about how the Bank’s quantitative easing is developing, and explains what impacts, if any, there will be following the rise in inflation.
In the latest blog from governance risk and compliance specialists Hitec, journalist Gaynor Pengelly explains why failure to gain the necessary data to accurately engage a customer can damage a relationship and lead them directly into the arms of the competition.
The BBA’s Financial Policy and Operations Policy Director, David Wren, blogs about what today’s consultation paper means for the UK banking sector.
Last week the BBA submitted its response to the PRA’s consultation on Pillar 2 proposals. Simon Hills, Executive Director, Prudential Regulation and Risk, blogs about the sectors’ views on the proposals.
BBA Retail Policy, Walter McCahon, blogs about the use of customer data and what it means for financial institutions.
Dr. Rebecca Harding, Chief Economist at the BBA talks about the Bank of Englands programme to buy Government bonds, quantitative easing and the housing market in this weeks blog.
Matt Peachey, Vice President & General Manager EMEA of Pindrop, blogs about the tactics used by fraudsters to steal customer data.
Kashif Khan, Accenture’s Core Banking Sub Practice lead for UK and Ireland, blogs about the digital opportunities within the unsecured lending market.
Simon Hills, Executive Director, Prudential Capital and Risk blogs about how the Bank of England’s decision to drop interest rates might impact the Leverage Ratio.
Commenting on the final findings of the CMA investigation into the supply of personal current accounts (PCAs) and of banking services to small and medium-sized enterprises (SMEs), chief executive of the BBA Anthony Browne said:
“Banks compete to attract and retain customers every day. They are also focused on giving their customers the best outcome for the services they provide. The CMA’s final recommendations will further help consumers with a package of measures which give individuals and businesses greater power to pick the products that are best for their needs.
“Customers and businesses have already found digital banking hugely convenient and have taken advantage of mobile technology that is allowing us to bank round the clock. We are pleased the CMA has reflected that in its recommendations.
“However, we recognise more work needs to be done to create a level playing field by supporting new banks wanting to set up business, as well as helping to grow established banks.”
Dr. Rebecca Harding, Chief Economist at the BBA, looks at the drop in the Bank of England base rate, why they took this approach and, more importantly perhaps, two of the challenges this approach faces.
The BBA’s Retail Policy Advisor, Iris Kapelouzou, blogs about what banks are doing to help blind and partially sighted customers, and what more can be done in the future.
Dr Rebecca Harding, BBA chief economist, said:
“The decision to cut interest rates and increase quantitative easing sends a clear signal that the Bank of England is taking a ‘whatever it takes’ approach to stabilising the economy. Weak post-Brexit data is creating a perception that the economy is likely to slow and the decision to reduce rates has been made on the basis of a perception of risk.
Financing Growth has been produced to help small to medium-sized businesses identify some of the different finance options that may be available to expand their business, including information, tips and Read More
We broadly welcome the proposals made in the consultation on the Scottish Government’s response to the introduction of the UK Apprenticeship Levy. Please read the full response via the link Read More
This month’s BBA High Street Banking statistics are the first to be published that reflect the immediate period since the UK referendum. The data does not suggest that borrowing patterns Read More