Investing.com - Net lending to individuals in the U.K. rose in line with expectations in February, official data showed on Monday.
In a report, the Bank of England said total net lending to individuals increased by ₤2.3 billion last month, meeting forecasts and up from net lending of ₤2.1 billion in January.
Net secured lending rose by ₤1.7 billion, above expectations for an increase of ₤1.5 billion, after rising by ₤1.5 billion in January.
Net consumer credit, including personal loans, overdrafts, and credit card lending, increased by ₤0.6 billion, unchanged from the previous month.
The report also showed that the number of final mortgage approvals fell to 70,000 in February from 77,000 in January. Economists had expected mortgage approvals to decline to 75,000 last month.
Following the release of the data, the pound held on to losses against the U.S. dollar, with GBP/USD dipping 0.05% to trade at 1.6632.
Meanwhile, European stock markets remained mixed. The Euro Stoxx 50 rose 0.1%, France’s CAC 40 dropped 0.1%, Germany''s DAX picked up 0.1%, while London’s FTSE 100 added 0.3%.