UK DATA: May Mortgage Approvals See Less Than Expected Rise
–BOE: UK May House Purchase Approvals 45,940 Vs 45,447 Apr
–BOE: UK May Net Mortgage Lending stg1.098bn Vs stg1.047bn Apr
–BOE: May M4 Ex-IOFCs 1.7% 4q/12m Annualised
–BOE: May M4 Ex-IOFCs 0.3% m/m; 1.0% 1q/3m Annualised
–BOE: UK May Net Consumer Credit stg173mln; Vs stg539mln Apr
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Weak mortgage approvals data, still running at little more than half
their long run (90,000) average, and a modest pick up in broad money
growth in these latest BOE figures. For full story see MNI mainwire.