BOE quarterly bulletin: Brexit still influencing household outlook
|Here are some of the key highlights from the BOE's latest quarterly bulletin, released just a while ago.
• Brexit process is still influencing households’ outlook
• Households’ outlook more pessimistic on both general economy and own finances
• In the latest NMG survey, average household incomes and the average outstanding mortgage balance increased by slightly more than in aggregate data
• November’s rate hike to have limited impact on high debt households
• Balance sheet positions of households have improved significantly since the financial crisis
• However, survey points to a modest deterioration for households over the past year
• Approximately 2½% of households with a mortgage will need to take action following November hike
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