UK banks join Italy’s in suspending mortgage payments

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Yesterday, we learned that Italy has suspended mortgage repayments amid the coronavirus crisis:

Italy’s deputy finance minister has said the government will suspend mortgage payments and other household bills across the entire country during the coronavirus outbreak.

Laura Castelli, part of the Five Star Movement side of Italy’s coalition government, said in an interview with Italian state radio that the government had been working with the country’s banks in recent days to prepare for the suspension.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.