Money and Credit (May 2019) - Review........>

UK DATA: Money and Credit (May 2019) - Review

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--In contrast to markets forecasting an increase of Stg0.9bn 

(MNI&BBG), consumer credit rose by Stg 0.822bn in May

--Mortgage approvals for house purchases fell to 65,409 in May, 

surprising to the downside (BBG: 65500; MNI: 65800) 

--Mortgage lending registered at Stg 3.102bn in May, missing market 

expectations of an increase by Stg 4.2bn (BBG&MNI)

--The effective interest rate on other loans for new businesses 

edged up further to 6.87% in May after a reading of 6.83% in April

--The effective rate on new secured loans remained steady at 2.08% 

--M4 money supply y/y (2.2%) fell back to March's level in May...

--...while m/m money supply (-0.1%) reached the lowest level since Apr18

--The annual growth rate of consumer credit continues to fall, dropping 

down to 5.6%, the lowest since Apr14

--A stable reading was recorded by the annual growth rate of mortgage 

lending (3.2%)