UK mortgage approvals increased to three-month high in February and consumer credit rose the most in nearly two years, data from the Bank of England showed Monday.
Net mortgage approvals for house purchases increased to 62,600 in February from 60,200 in January. Approvals were expected to rise moderately to 61,000.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages slightly climbed to 4.10 percent from 4.09 percent in January.
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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.