FXStreet (Mumbai) – A new ‘Money and Credit’ report published by the Bank of England (BOE) revealed on Wednesday, the number of mortgage approvals increased to 66,582 in June, which is above an upwardly revised 64,826, and outpaced market expectations.
The volume of secured lending for dwellings surged by GBP2.6 billion, which the BOE noted was the highest figure since July 2008.
The report further showed consumer credit rose by GBP1.2 billion, which is above the previous six-month average, while loans to small and medium-sized business also accelerated above the average by GBP0.4 billion.
(Market News Provided by FXstreet)