With interest rates minimal and income stagnating, British consumers are digging into their savings.
Britain's central bank has done what it avoided doing for the past 10 years. It's hiked interest rates to curb inflation caused by a steep drop in the pound's value. But the marginal rise is of a rather symbolic nature.
The Bank of England has warned retail lenders to bulk up capital reserves by the end of 2018. As UK household indebtedness grows, the bank's governor warned lenders against "forgetting the lessons of the past."
The German government has raised its growth outlook for 2017. It said strong domestic consumption would increase growth and bring down a much-criticised trade surplus logged by Europe's powerhouse for years on end.
The EU hopes its much-hyped portable private pension will address a dangerous shortfall in retirement savings. But as demographic issues differ between member states, experts question why Brussels is taking the lead.
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