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UK customers stepped up their borrowing by the smallest amount since mid-2015 for the three months to November. The fact suggests UK households are slowly decreasing spending, as Bank of England figures revealed on Thursday.
Britain's economy had lackluster surge for most of the previous year - especially compared to its faster-ascending neighbors - and Thursday's BoE data hints this pattern kept unrolling toward the end of 2017.
The country’s major financial institution told unsecured consumer lending for the three months to November ascended at an annualized rate of 8.5%, sliding from 9.3% for the three months to October and also its weakest reading since June 2015.
The Bank of England played down any hint at a debt bubble, although it has acknowledged pockets of risk and also required financial institutions to set aside more funds against the risk of bad loans.
In cash term, in November, borrowing soared by 1.4 billion pounds, versus experts’ estimates of a 1.5 billion pound soar in a Reuters survey.
In October, the United Kingdom recorded a greater budget deficit than anticipated, as follows from first borrowing figures, since finance minister Philip Hammond pledged an end to austerity was over there…
Find out about the most important market movers from today's digest!
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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