FT.com: Growing economy shrugs off rate rises

Signs that secured borrowing remains robust and firm data on manufacturing and retail sales, released on Thursday, painted the picture of an economy that has yet to be cooled by the recent spate of interest rate rises.

The Bank of England said that the number of mortgage approvals – considered a good indicator of near-term demand for property – rose from 114,000 in December to 120,000 in January.

“Given the monetary policy committee’s concerns about inflationary pressures, the data broadly support the case for a further interest rate hike,”