Latest data released by the BOE - 29 November 2019
- Prior 65.9k; revised to 65.8k
- Net consumer credit £1.3 billion vs £0.9 billion expected
- Prior £0.8 billion
Despite a drop in mortgage activity to a seven-month low, consumer credit growth is seen improving for the first time since June 2018. That is a bit of a reprieve after the continued drop going into last month - which hit its weakest pace since July 2014.
That said, the UK economy is still a long way from running hot again and the pressure will still be on for the BOE to potentially have to cut rates before the whole Brexit debacle can be sorted out before the end of next year.
