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Mortgage Approvals Move to 7-Month High In..>

UK DATA
UK DATA: Mortgage Approvals Move to 7-Month High In Aug              
--BOE: UK Aug House Purchase Approvals 66,440 vs July 65,156   
--BOE: UK Aug Net Consumer Credit stg1.118bn vs July stg0.838bn  
--BOE: UK Aug Net Mortgage Lending stg2.904bn vs July stg2.970bn   
--BOE: UK Aug M4 Ex-intermediate OFCS 0.3% m/m; 0.9% 3m Annualised         
--BOE: UK Aug Effective Rate New Secured Loans 2.10% v July 2.04%    
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Mortgage approvals rose to a seven-month high in August to 66,440 
from 65,156 in July. This was a bounceback from July's drop to 65,156. 
Whilst the volatile net consumer credit recovered from July's 4-month 
low to stg1.1bn it remained below the six-month average of stg1.3bn 
due to sluggish growth in other loans and advances to stg0.7 bn, 0.2 bn 
below the six-month average. The effective rate on new secured loans 
increased 6bps to 2.10%. The BOE's data showed the rate on consumer 
overdrafts at their highest since October 2017. 

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