Bank of England says individuals borrowed extra £2.1bn in consumer credit in November Credit card borrowing rose at the fastest annual rate for almost two years in November, according to the Bank of England , as households took on debt to finance the rising cost of Christmas. In a snapshot covering the month of Rachel Reeves’s highly anticipated autumn budget , the central bank said individuals borrowed an additional £2.1bn in consumer credit, up from a £1.7bn increase in October. Continue reading... from The Guardian https://ift.tt/GiP1IYO via IFTTT
All banking in the Pacific nation used to be done in cash but that is about to change on the main island of Funafuti
Tuvalu, one of the world’s most remote nations, has unveiled its first ever ATMs, at the headquarters of the National Bank of Tuvalu in the village of Vaiaku on Funafuti, the country’s main island.
Tuesday’s ceremony marked a historic shift for the island nation of 12,000 people, which has never before had access to electronic banking. Attended by prime minister Feleti Teo, the governor general, traditional leaders, members of parliament and representatives from the diplomatic and business sectors, the event celebrated a long-anticipated move toward financial modernisation.
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