BOE FSB presser now underway 27 June
- FPC previous cut of CCYB along with MPC action supported UK economy during period of heightened uncertainty
- FPC now raising CCYB again as domestic risks now at standard levels
- intense competition means risk margins have fallen, risk assessments declined
- consumer credit growth has far outpaced incomes over the past year
No surprises there. If you're not earning enough to beat rising prices you're going to borrow more. Was ever thus Mr C .Always a key risk as I've banged on about for months/years now.
Cheap money feeds the huge demand/need and will end in tears. Hike rates and watch growth crumble
Watch the presser live here
GBPUSD 1.2737 after the post FPC report highs of 1.2774
EURGBP up to 0.8832 and helping to cap cable as EURUSD holds 1.1250
Looks like we'll have to wait to the Q&A for any further action.
Carney delivers FPC report
