Online Forex broker
In June, Britain's housing market managed to surge because mortgage approvals reached a five-month maximum, as the Bank of England informed on Monday.
Apparently, the figures turned out to be in line with expectations. Most probably, they won’t change the debate around the major bank’s policy verdict on Thursday, and it’s believed to provoke another interest rate lift.
In June, UK lenders approved up to 65,619 mortgages in contrast with May’s outcome of 64,684. It’s quite close to the consensus figure of 65,500 in a Reuters survey of market experts.
Moreover, Monday's outcome also disclosed a stronger than anticipated leap in lending to British customers.
The vast majority of market experts surveyed by Reuters are assured that the bank of England is on the verge of lifting rates to another post-financial crisis maximum of 0.75% on Thursday.
The major bank is convinced that inflation pressure is starting to strengthen and that a deceleration in the British economy in the begging of this year was provoked mostly by strikingly cold winter weather.
However, wage surge hasn’t manage to pick up a lot and some market experts are concerned that domestically generated inflation pressure is going down that would make a rate lift worthless and even harmful to households.
The previous week industry body UK Finance informed that in June banks' mortgage approvals for home purchase reached a nine-month maximum, as follows from seasonally updated figures.
Besides this, net mortgage lending ascended by 3.851 billion pounds. As for consumer lending, it managed to soar by 1.567 billion pounds in contrast with an estimate of a leap of 1.3 billion pounds.
Consumer credit surge has been speeding down gradually since it soared by 11% in January 2016.
Britain’s key bank has rejected a probability of a debt bubble.
In March, American homebuilding went down to an almost two-year minimum, suppressed by ongoing weakness in the single-family housing segment, dropping a hint that the housing market kept struggling notwithstanding decreasing mortgage rates…
China is going to maintain policy support for the national economy, still facing downward pressure as well as difficulties after better-than-anticipated first quarter surge…
UK customers generally neglected fears about an impending Brexit deadline…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
