UK Oct lending data now out 24 Nov

  • 41,576 prev revised down from 41,584
  • -3.0% yy
  • £1.815bln vs 2.184bln prev
  • lowest since July
  • credit card lending £0.081bln vs £0.318bln prev
  • lowest since Dec 2016
  • net lending to non-financial corps £1.5bln v

Lowest mortgage approvals headline number since Sept 2016

  • businesses taking cautious approach to borrowing
  • demand for credit falling from SMEs in Q3

GBPUSD steady around 1.3318 with EURGBP still supported above 0.8900 and EURUSD remaining underpinned.