The Financial Position of British Households: Evidence from the 2019 NMG Consulting Survey

16 Pages Posted: 17 Jan 2020

See all articles by Harry Rigg

Harry Rigg

Bank of England

Gosai Goralczyk

Bank of England

Georgina Green

Bank of England

Date Written: December 20, 2019

Abstract

The financial situation of households is a key determinant of how they respond to changes in the economy and monetary policy. In our latest survey of British households, conducted in September, households’ income expectations were stable, but spending expectations fell slightly. While households’ expectations around income and their own financial situation have remained relatively positive, their expectations about the wider economy have continued to be negative. The proportion of households that spend a large share of their income servicing mortgage debt has remained low, although the proportion of households with high mortgage debt relative to their income has risen slightly.

Suggested Citation

Rigg, Harry and Goralczyk, Gosai and Green, Georgina, The Financial Position of British Households: Evidence from the 2019 NMG Consulting Survey (December 20, 2019). Bank of England Quarterly Bulletin 2019 Q4, Available at SSRN: https://ssrn.com/abstract=3520649

Harry Rigg (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Gosai Goralczyk

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Georgina Green

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

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