UK lending data now out 29 March

  • 69.1k prev revised down from 69.9k
  • net lending secured on dwelling GBP 3.5bln as exp vs 3.2bln prev revised down from 3.4bln
  • net consumer credit GBP 1.4bn vs 1.3bln exp vs 1.6bln
  • net lending to individuals GBP 4.9bln as exp vs 4.8bln prev
  • M4 money supply mm -0.3% vs +0.9% prev
  • yy 5.7% vs 7.0% prev
  • ex IOFCs 3-month annualized 4.0% vs 1.6% exp vs 1.8% prev

Sharp retraction in M4.

Rise in net consumer credit/net lending not necessarily going to find its way into the high street. My long held concerns about UK household debt are unchanged.

Mortgage Approvals measures the number of new mortgages approved for home purchases during the previous month by the Bank of England. The data tends to have a limited impact because about 60% of all mortgages are covered by the BBA Mortgage Approvals data released a few days earlier.

GBPUSD still flirting with 1.2420 offers/res. EURGBP drifting lower again at 0.8685