Data released by the Bank of England
- Prior revised to 66.1k
- October mortgage lending 3.4bn vs 3.7bn expected
- M4 money supply m/m grew 0.6% vs -0.2% prior
- October net consumer credit 1.5bn vs 1.5bn expected
Slight dip in the numbers, it's the lowest reading since September 2016.
No need to panic just yet. People still need loans, and lenders are willing to finance them. But to say that a trend isn't developing in the second half of 2017 would be a lie. This could be a space to watch moving forward.
GBP/USD now down from session highs to 1.3406.