UK mortgage lending increased to the highest since last September and mortgage approvals rose unexpectedly in May despite the squeeze on real income from rising inflation and interest rates, official data showed on Friday. Mortgage lending increased to GBP 7.4 billion in May from GBP 4.2 billion in April, the Bank of England said. This was the highest since September 2021.At the same time, approva...
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.