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Money and Credit - August 2023
These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals increased for the fourth consecutive month to £1.2 billion in August, up from £0.2 billion in July. Net mortgage approvals for house purchases fell from 49,500 in July to 45,400 in August, the lowest level in six months. Net approvals for remortgaging dropped from 39,300 to 25,000 during the same period, the lowest since July ... (full story)