BULLET: BOE DATA: Money and Credit (Sep 2019) - Review.......>

BOE DATA: Money and Credit (Sep 2019) - Review

------------------------------------------------------------------

- Net Consumer Credit: Stg0.828bn; Prev(Aug): Stg0.969bn

- Mortgage Approvals: 65,919; Prev(Aug): 65,681

- Net Lending on Dwelling: Stg3.846bn; Prev(Aug): Stg3.704bn 

- M4: +0.7% m/m; +7.6% 3m y/y; +4.0% y/y

- M4 ex IOFC: +0.5% m/m; +7.9% 3m y/y; +3.9% y/y

------------------------------------------------------------------

Mortgage approvals rose to a two month high in Sep, in contrast to 

markets penciling in a decline, while mortgage lending was in 

line with expectations. In contrast to markets looking for a steady 

reading, net consumer credit edged down in Sep, hitting a six month 

low. Meanwhile, the effective interest rate on new secured loans and 

other unsecured loans fell by 4bps to 2.0% and 33bps to 6.78%,  

respectively. The annual growth rate of consumer credit was 6.0% in Sep,  

while the annual rate of mortage lending was unchanged at 3.2%.