BOE's Broadbent still up to the mic at the BBC 4 Aug
- we have got perfectly used to rate rises in the past
- some areas of unsecured debt have been growing quite a lot
- levels of consumer credit relative to incomes is lower than before financial crisis
Maybe but they keep missing the fact that disposable income has fallen for the third quarter in a row. Something not seen since the awful times of the 1970s
- MPC does not think credit levels are first order macro issue for UK economy
Then they are mistaken. Again.
Just shows the pickle they and other CBs are in right now. Need to tighten after too cheap for too long but they can't.
GBPUSD stull unfazed at 1.3135 EURGBP 0.9043
BOE's Broadbent - Not too bothered about consumer debt
