BOE Quarterly Bulletin now out
- The balance sheet positions of mortgagors have improved modestly over the past year.
- Household spear a little better placed to cope with a rise in interest rates than a year ago and survey responses do not imply that a rise in rates would have an unusually large impact on spending
- The survey results suggest that the Government's plans for fiscal consolidation are likely to continue to weigh on household spending
The words "modestly" and a "little" better belie the headline
Carney and Co still have good reason to be cautious
GBPUSD suitably unfazed at 1.5155 EURGBP 0.7260
Full Bulletin from the BOE site here
