American English

Definition of credit crunch noun from the Oxford Advanced American Dictionary


credit crunch

[usually singular] (economics)
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an economic condition in which it suddenly becomes difficult and expensive to borrow money In a credit crunch, lenders stop lending and credit becomes tough to obtain. Consumer confidence is plunging as the credit crunch hits household budgets. Many companies will not survive the unfolding credit crunch.
See the Oxford Advanced Learner's Dictionary entry: credit crunch