September 2017 UK Mortgage and BOE consumer credit data 30 October 2017
- Prior 66,580
- Mortgage lending 3.848bn vs 4.041bn prior. Revised to 3.929bn
- BOE consumer credit 1.606bn vs 1.500bn exp. Prior 1.583bn. Revised to 1.760bn
- (of which) Credit card lending 641m vs 436m prior. Revised to 318m
- Lending to non-financials -1.389bn vs -4.998bn prior. Revised to -5.214bn
- (of which) SME’s 438m vs -41m prior. Revised to -94m
- M4 money supply -0.2% vs 1.1% prior m/m. Revised to 0.9%
- 4.8% vs 4.4% prior y/y
- M4 ex-financials 0.1% vs 1.0% prior m/m. Revised to 0.8%
- 4.6% vs 5.2% prior. Revised to 5.1%
Consumer and mortgage lending stay relatively strong and that gives the BOE something to think about ahead of Thursday. A BOE hike won’t be that impactful on UK households as only some 30% have mortgages. That won’t mean that those 30% won’t get hit hard by a rise in interest rates but people have had plenty of time to switch mortgages into lower rates. Indeed, some 60% of mortgages are now at fixed rates. GBPUSD hasn’t done much but it fell 10 odd pips from 1.3163 and recovered the same.
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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