He's still going
BOE is right to keep a close eye on consumer credit but aggregate borrowing is not tearing away
Mortgage lending is not growing rapidly and household debt has fallen as a share of GDP
There are reasons not to be alarmist over double digit growth in consumer credit
Sees GDP growth slowing a little and inflation picking up materially in 2017
BOE has a neutral bias on policy
BOE hasn't changed its view of the economy over the coming years
His comments on consumer credit growth are a tad concerning. Some bounce back in borrowing is understandable after coming through the crisis but there's a thin line between a natural pick up and a move back into excessive debt levels.
