Net Consumer Credit Retracts To Four-Month..>

UK DATA: Net Consumer Credit Retracts To Four-Month Low in July            

--BOE: UK July House Purchase Approvals 64,768 vs June 65,374   

--BOE: UK July Net Consumer Credit stg0.817bn vs June stg1.521bn  

--BOE: UK July Net Mortgage Lending stg3.195bn vs June stg3.851bn   

--BOE: UK July M4 Ex-intermediate OFCS Flat m/m; 3.5% 3m Annualised         

--BOE: UK July Effective Rate New Secured Loans 2.04% v June 2.09%    

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Net consumer credit contracted to a four-month low in July, 

standing at stg0.817bn. The reading was also below the six-month average 

of stg1.4bn, and was driven by falls in both credit card lending and 

other loans and advances. Mortgage approvals ended two consecutive 

months of growth, easing to 64,768 in July. However, the figure remains 

above the six-month average of 64,524. The effective rate on new secured 

loans decreased 5bps to 2.04%. The BOE's data showed the rate on 

consumer overdrafts at their highest since October 2017.