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CMl gross lending estimate for November - Comment PDF Print E-mail
Thursday, 17 December 2015

Paul Hunt, Phoebus Software managing director, says “Although the level of lending in November was higher than the same month last year, it is perhaps not surprising that it is lower than the October figures announced earlier this week.  Given the increase in remortgage business completed in October, three months after the governor of the Bank of England warned of interest rate rises early in 2016.  The number was always likely to be less in November once things settled down and the worry of early rate rises dissipated.

“Of course the concern of a base rate rise may well be sparked again now that the US Federal Bank had made the decision to increase interest rates. How long will it now be before the MPC make the same decision? It could be an interesting first meeting in January.”

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