Market Updates: Net Lending to Individuals Jumps to 4.8B in UK - Forex News by FX Leaders

Market Updates: Net Lending to Individuals Jumps to 4.8B in UK

Posted Wednesday, January 30, 2019 by
Arslan Butt • 1 min read

The Bank of England just released the figures on net lending to individuals and guess what, the lending has soared to 4.8B vs. 4.3B beforehand. In case you don’t know, the lending figures are correlated with consumer spending and confidence. Rising debt levels are a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money.

As per the report, the annual consumer credit growth decreased to 6.6% in December, indicating the sequence of relatively weak flows of new lending. The net monthly flow in December sank to £0.7 billion, indicating less extra borrowing on credit cards.

The GBP/USD showed a muted response to the release of these figures and it continues to trade below $1.3135. Let’s wait for FOMC and ADP figures from the United States.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments