Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (34552)	7/30/2005 3:53:15 AM
From: mishedlo	Respond to of 116555

The Bank of England said net consumer credit, which includes borrowing on credit cards and personal loans, rose by £1.3bn in June. The increase, a sharp slowdown from the £2bn rise in May, was much weaker than economists had predicted and appeared to cement the prospect of the first interest rate cut in two years when its Monetary Policy Committee meets next week. Borrowing rose 12.5 per cent on the year, its weakest rate since August 2001. The net amount lent to individuals overall was £8.8bn, against £9.8bn in May, the Bank said. John Butler, UK economist at HSBC, said the Bank was likely to cut interest rates next Thursday, but added: "The key issue is whether households ... respond by borrowing even more or whether the slowdown is now entrenched." news.independent.co.uk