BOE: UK lenders see demand for mortgages, credit cards plummeting before Brexit

BOE: UK lenders see demand for mortgages, credit cards plummeting before Brexit

BOE publishes its quarterly credit conditions survey

  • UK lenders expect demand for mortgages over next 3 months to fall at fastest pace in 8 years
  • UK lenders expect demand for credit card lending over next 3 months to fall at fastest pace on record

ForexLive

The full report can be found
here. That pretty much sums up the toll that Brexit uncertainty is having on the economy and why consumption and housing conditions are worsening over the past year. This is one of the negative factors that needs to be weighed up if we are to see an Article 50 extension in the near future.

GBP/USD sits at 1.2878 now, little changed on the day after recovering from a low of 1.2832 earlier. EUR/GBP sits at 0.8850 now, slightly higher but not much movement in the past hour.

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