EUR/GBP, GBP/USD flows - Soft Credit Conditions and BOE Bailey
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The BOE credit conditions survey shows soft credit supply and demand for small to mid sized corporates.
Banks became less willing to provide to small and medium sized businesses, but was more normal for large businesses. On the household front, mortgage lending supply was normal and demand is projected to pick-up in the next 3 months. Thus a mixed credit conditions survey, but some MPC members will be worried about lending to SME businesses. Meanwhile, BOE Bailey speaks at 1315 today in Istanbul, but given the close discussion and the November inflation projections, he is unlikely to provide heavy hints for the next BOE meeting.