Comment on UK Finance Gross Lending Estimate for September

25 October 2017

Richard Pike, Phoebus Software sales and marketing director, says “It is hardly surprising, given the amount of news regarding a potential interest rate rise in November, that lending is continuing on its steady path.  However, with swap rates already rising, even in anticipation of a hike, the deals that were available only a month or so ago are already disappearing. 

 

“With just over a week to go until the Monetary Policy Committee meet to vote the question remains, is this really the time to put interest rates up?  There is of course the government target of 2% inflation that the Bank has to consider, but can that be the only driver in the decision.   Consumer confidence is already waning, perhaps the MPC will decide to err on the side of caution for another month.”

 

 

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