BOE Quarterly Bulletin - Households Finding Incomes Declining

Bank of England Quarterly Bulletin - Households Finding Incomes Declining, Credit Harder to Access

Release Explanation: This release includes commentary on market developments and monetary policy operations, along with reports on a range of domestic and international economic issues, market research, and market analysis.

Trade Desk Thoughts: The financial position of British households has been affected by a number of developments over the past year, including sharp fluctuations in food and energy bills, falling house price,s and tighter credit conditions.

The typical household reported that the income it had available after meeting household bills had fallen over the past year and that it had saved less than it had expected.

But despite the greater pressures on household finances, only 3% of the households surveyed had so far fallen behind on bill or debt payments. Lower house prices had reduced the housing equity of homeowners

Forex Technical Reaction: GBPUSD jumped up 50 pips in an ongoing move higher.

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