UK mortgage approvals drop, consumer credit growth slows, but household savings rise slightly.

UK mortgage approvals fell to 65,700 in November, a drop of 2,400 from October, but still above the 12-month average. Consumer credit growth slowed to its weakest pace in over two years, with the annual growth rate declining to 6.6%. Despite these declines, household deposits increased by £0.2 billion. The Bank of England kept interest rates unchanged, signaling a cautious approach to economic policy.

3 months ago
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