Credit crunch 'may hit UK growth'
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UK economic growth may be 1% lower in 2008 and 2009 because of the credit crunch, a report says.
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The UK economy is set to slow markedly in 2005, consultancy firm Deloitte warns, with growth of just 2%.
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It was held up by politicians two years ago as a model for economic revival for others in Europe. Now England's northeast is a frontline for the impact of a credit crisis that began in California.
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Rising paychecks and expected job gains could offset high heating bills and a potential credit crunch.
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Britainâs buoyant borrow-and-spend era may be coming to an end, and there are accounts still to be settled.
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Consumers in the UK are becoming more prudent when it comes to getting into debt, according to financial advisers.
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Business & money: Financial markets anticipate swift and hefty cuts in British interest rates next year
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Young people could face a massive  squeeze on their finances in the next few years, a report suggests.
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Business confidence in the UK economy has been knocked by the recent market turmoil, a survey says.
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The global credit crunch, created by uncertainty about the size of losses in the U.S. mortgage market, will curb euro zone economic growth in coming quarters, the European Commission said.
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The UK economy is set to slow markedly in 2005, Deloitte warns, with growth of just 2%.
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Business & money: Watchdog warns banks that balance sheets will be under extra scrutiny and so they should not try to hide the worst effects of the credit crunch
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A global credit crisis has increased the  threat to growth, the European Central Bank said on Thursday,  as G7 governments asked for a report on the genesis of the  turmoil for next month&#39;s meeting of finance chiefs.
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Business & money: Credit crunch and housing woes blamed for gloom as businesses begin lobbying for interest rate cut
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Mortgage lender calls on Bank of England to provide emergency funding, in new sign that the credit crunch is squeezing UK banking.
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Â· Economist warns of sharp downturn Â· Tory leader attacks Brown over crisis
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Members of the Federal Reserve's interest rate setting committee worried last month that a credit crunch could sharply brake economic growth and require big interest rate cuts, minutes of the U.S. central bank's December meeting released on Wednesday show.