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Tuesday preview: UK consumer lending data in the spotlight

By Alexander Bueso

Date: Tuesday 23 Jun 2020

Tuesday preview: UK consumer lending data in the spotlight

(Sharecast News) - Financial markets' focus on Tuesday will be on UK lending data for the month of April that are expected to show that lenders further tightened standards during the month.
Consumer credit is expected to have fallen by £4.5bn following March's £3.8bn drop while mortgage lending is projected to have fallen from £4.8bn to £1.2bn.

The number of mortgage approvals meanwhile is seen falling from 56,200 for March to 28,000 in April.

A reading on monthly UK house prices is also due out from Nationwide (consensus: -1.0% month-on-month).

Down Under, the focus will be on the Reserve Bank of Australia's latest interest rate decision.

Given the government's decision to embark on a three to five-year jobs programme called 'Jobmaker', Michael Hewson at CMC Markets UK expects the monetary authority to stay put for now.

Looking further ahead on the other hand, additional quantitative easing could be on the cards, Hewson said.

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