SocGen's Edwards: BoE monetary policy's 'new level of schizophrenia'

Permabear Edwards said there was compelling evidence of a consumer credit bubble in the US and UK, but expressed concerns about the "bizarre" reaction of the Bank of England. Though BoE Governor Mark Carney has warned "banks are forgetting the lessons of the past" and increased bank capital requirements on consumer loans, the central bank has also just increased its programme of lending to banks at preferential rates to increase bank lending in such areas as consumer credit. Edwards said: "I have heard stories of credit card loan search engines spewing out money on four-year, 0% tease...