Towards the credit void
Report Date: 12th October, 2020 The public sector’s aggressive action prevented the Covid-crisis turning into another global financial crisis. But many of the remedies were short-term in nature. With banks tightening lending standards and demand for credit weak, the risk is that credit extension drops away dramatically. That hangover will undermine the recovery and force governments and central banks into a further wave of stimulus to prevent our super-leveraged financial system from deflating.
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