- Prior 0.60bn
- Mortgage lending 1.00bn vs 0.90bn exp. Prior 0.70bn. Revised to 0.80bn
- Mortgage approvals 62.22k vs 61.35k exp. Prior 60.62k. Revised to 60.91k
- M4 money supply 0.70% vs 0.60% prior m/m
- 2.1% vs 1.8% prior y/y
Mortgage approvals highest in 5 years.
Probably the most important aspects to note are that lending to individuals increased while business borrowing dropped, particularly in non-financial businesses and SME’s.
It’s something the BOE and government need to keep a close eye on so that consumer borrowing doesn’t run away again. It will also be a concern that businesses are still wary to borrow and invest.
