credit crunch
noun/ˈkredɪt krʌntʃ/
/ˈkredɪt krʌntʃ/
[usually singular] (economics)- 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.
Check pronunciation:
credit crunch