RISING MORTGAGE DEBT MAY BE GOOD FOR BANKS, BUT WORRISOME FOR THE ECONOMY - 2004-02-19
Commenting on today’s lending numbers from the British Bankers’ Association, Vince Cable MP, Liberal Democrat Shadow Chancellor, said:
"Rising mortgage debt and the house price boom may be good for bank profits, but it’s alarming for the economy.
"The Government is desperately hoping that the Bank of England will let it off the hook, but there is a real danger of a crash if rises in interest rates do not deflate the current boom.
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