UK mortgage approvals increased more than expected to a three-month high in October signaling a slowdown in the housing market downturn after the central bank kept interest rates unchanged in September and November.
Net mortgage approvals for house purchases rose to a three-month high of 47,400 in October from 43,700 in September, the Bank of England reported Wednesday. The expected level was 45,000.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.