Investing.com – Net lending to individuals in the U.K. rose significantly more-than-expected in January, official data showed on Tuesday.
In a report, the Bank of England said net lending to individuals rose by GBP1.5 billion in January, up from GBP0.5 billion in December, whose figure was revised down from a decline of 0.1 billion.
Analysts had expected net lending to rise by GBP0.3 billion in January.
The report also showed that the number of final mortgage approvals rose more-than-expected in January, climbing to 46K, up from 41K in December. Analysts had expected final mortgage approvals to rise to 43K.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.29% to hit a 13-month high of 1.6307.
Meanwhile, European stock markets were up. The FTSE 100 climbed 0.43%, the EURO STOXX 50 gained 0.48%, France’s CAC 40 added 0.51%, and Germany's DAX jumped 0.79%.
In a report, the Bank of England said net lending to individuals rose by GBP1.5 billion in January, up from GBP0.5 billion in December, whose figure was revised down from a decline of 0.1 billion.
Analysts had expected net lending to rise by GBP0.3 billion in January.
The report also showed that the number of final mortgage approvals rose more-than-expected in January, climbing to 46K, up from 41K in December. Analysts had expected final mortgage approvals to rise to 43K.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.29% to hit a 13-month high of 1.6307.
Meanwhile, European stock markets were up. The FTSE 100 climbed 0.43%, the EURO STOXX 50 gained 0.48%, France’s CAC 40 added 0.51%, and Germany's DAX jumped 0.79%.