Latest data released by the BOE - 1 March 2019
- Prior 63.8k
- Net consumer credit £1.1 billion vs £0.8 billion expected
- Prior £0.7 billion
Net consumer credit showed its biggest monthly rise since August 2018 but the details are a little less optimistic with overall consumer credit growth slowing further to just 6.5% y/y now. That's a tick lower than the 6.6% growth in December, and represents the slowest pace of increase since October 2014.
This underscores the softness seen in the UK economy and a continued slowdown here will raise some question marks on the BOE's once-a-year rate hike outlook once the Brexit dust has settled, if it ever does.
