Total Consumer Credit in 2015
Total Consumer Credit opened 2015 at $3320B and closed at $3400B, a +2.42% move for the year. The high of $3511B was reached on November 1, and the low of $3320B on January 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $3320B | $3320B | $3320B | $3320B | +0.00% |
| Feb | $3338B | $3338B | $3338B | $3338B | +0.00% |
| Mar | $3361B | $3361B | $3361B | $3361B | +0.00% |
| Apr | $3383B | $3383B | $3383B | $3383B | +0.00% |
| May | $3399B | $3399B | $3399B | $3399B | +0.00% |
| Jun | $3425B | $3425B | $3425B | $3425B | +0.00% |
| Jul | $3444B | $3444B | $3444B | $3444B | +0.00% |
| Aug | $3460B | $3460B | $3460B | $3460B | +0.00% |
| Sep | $3488B | $3488B | $3488B | $3488B | +0.00% |
| Oct | $3503B | $3503B | $3503B | $3503B | +0.00% |
| Nov | $3511B | $3511B | $3511B | $3511B | +0.00% |
| Dec | $3400B | $3400B | $3400B | $3400B | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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