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Money Matters: Financial News February 2020

money matters feb 2020 image

With our Money Matters post for February, we focus on the affects of Coronavirus on travelling, along with many other stories, news and articles of interest, brought to you by the Money Guru Squad.

News Highlights:

  • Coronavirus affects – travelling and travel insurance
  • New chancellor appointed
  • Net flow of consumer credit increased to £1.2 billion in Dec 2019

The Coronavirus outbreak has escalated around the world, with the worst hit areas including mainland China, Japan, Singapore, Taiwan, Thailand, Iran and Italy. Aside from health concerns, this is also leading to widespread disruption for travellers, who have been warned to check their flight plans and protect themselves with travel insurance.

After Sajid Javid’s resignation, there was also the appointment of Rishi Sunak as the new Chancellor of the Exchequer. He will present the new budget for 2020 on the 11th March, which will be the first since the General Election of 2019 that gave Boris Johnson’s Conservative Party a majority government.

The latest results from the Bank of England showed that the net flow of consumer credit rose to £1.2 billion from £0.7 billion in November. This is much more in line with the average of £1.1 billion, which was encouraging for the UK economy. However, this does not account for any recent economic developments which may show a downward trend into 2020.

Money Guru Highlights:

Have you checked your eligibility?

Lastly, if you’re thinking of applying for a personal loan or credit card in 2020, always check your eligibility first. This will protect your credit score and narrow down your search so you don’t have to trawl through all of our products.

Start your comparison journey today by filling out moneymatcher – it will take less than 5 minutes and you can view your results for up to 30 days!

Robert Bester