Investing.com - Net lending to individuals and households in the U.K. rose less than expected in January, reflecting weaker demand for credit, official data showed on Monday.
In a report, the Bank of England said total net lending to individuals increased by ₤2.4 billion in January, below forecasts for net lending of ₤2.7 billion and up from ₤2.1 billion in December.
Net secured lending rose by ₤1.6 billion in January, missing expectations for an increase of ₤1.7 billion, after rising by ₤1.6 billion in December.
Net consumer credit, including personal loans, overdrafts, and credit card lending, increased by ₤817 million, below forecasts for ₤900 million and compared to ₤516 million in December.
Meanwhile, the M4 Money Supply fell by a seasonally adjusted 0.8% in January, confounding expectations for a gain of 0.3% and following an increase of 0.1% in December.
The report also showed that the number of final mortgage approvals rose to 60,790 in January from 60,350 in December. Economists had expected mortgage approvals to hit 61,000 in January.
GBP/USD was trading at 1.5417 from around 1.5404 ahead of the release of the data, while EUR/GBP was at 0.7264 from 0.7269 earlier.
Meanwhile, European stock markets remained mixed in subdued trade. London’s FTSE 100 tacked on 0.3%, the EURO STOXX 50 rose 0.1%, France's CAC 40 dipped 0.2%, while Germany's DAX advanced 0.25%.