Reported 3 days ago
Britain's banks are increasingly struggling with bad loan predictions due to unreliable labor market data. The UK's Office for National Statistics has faced criticism for inadequate employment data, prompting banks like HSBC, Barclays, Lloyds, and NatWest to set aside billions for potential credit losses. This uncertainty affects lending appetite and could hinder economic growth, as banks may become overly cautious in their forecasting and credit-loss dealings. Despite the challenges, officials maintain that the overall impact on economic growth remains limited.
Source: YAHOO