DEMSA update: Open Banking / Credit Summit / Digital Debt Resolution / Insolvency Stats / Events / …

General update

We are approaching Debt Awareness Week from Monday 21 March 2022. I have seen a number of supportive posts in the lead up. Debt Awareness Week is the StepChange annual campaign that aims to put problem debt and debt advice on the agenda. Hugely topical at the moment as the bulletin will reflect from a number of angles.


The Monetary Policy Committee (MPC) voted 8:1 to increase interest rates for the third time in four months. The Bank of England has increased the rate to 0.75% from 0.5%. The intent is to calm the rise in the cost of living. Inflation stands at 5.5%, well above the Bank of England's 2% target. The Bank expects inflation to exceed 8% in coming months. Developments since the February 2022 Report accentuate both the peak in inflation and the adverse impact on activity by intensifying the squeeze on household incomes.

This is obviously not good news for bor...

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