Latest credit data released by the Bank of England - 30 August 2018

  • Prior 65.6k; revised to 65.4k
  • Net consumer credit £0.8 bn vs £1.5 bn expected
  • Prior £1.6 bn; revised to £1.5 bn
  • Net lending secured on dwellings £3.2 bn vs £3.9 bn expected
  • Prior £3.9 bn
  • M4 money supply +0.9% vs -0.3% m/m prior
  • M4 money supply +2.1% vs +1.7% y/y prior
  • M4 ex IOFCs annualised +3.5% vs +3.6% prior

Not much to glean upon from the release here. Credit conditions are generally within expectations.

Cable has moved lower though towards the 1.3000 handle and even briefly moved below that as the euro and pound slip on the day as European equities continue to come under pressure - benefiting the dollar, swissie and yen.