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In October, the overall number of mortgages approved by the British Banker’s Association went down to a 13-month minimum, as industry data disclosed on Friday.
UK Finance reported that in October mortgage approvals went down to a seasonally updated 40.5 thousand versus September’s outcome of 41.6 thousand.
Experts had expected mortgage approvals to edge down to nearly 40.9 thousand the previous month.
Besides this, a great number of homeowners rushed to have their mortgages refinanced ahead of the Bank of England's rate lift the previous month, as the association informed.
The anticipated bank rate soar saw a storm of remortgage activity as a lot of homeowners tried to benefit from the competitive rates on offer. In addition to this, borrowing was also stimulated by stronger first-time buyer activity because this segment derived the benefits from lower rates, good credit availability as well as government housing schemes.
In December, a major measure of American producer prices suddenly slumped and the overall gauge went down more than predicted in the face of lower crude prices, indicating that potential inflation pressures in the American economy are still there…
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
In November, euro zone industrial output reported its greatest dive for almost three years, as follows from data uncovered on Monday…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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