The United Kingdom Housing Price Index recorded gains for a seventh consecutive month as reported by the Nationwide Building Society. The data showed annual gains for the month of January of 4.40%, in line with December gains of 4.50%. The slide in mortgage approvals in December was the source of the slowdown, reported the NBS. On a monthly basis, January results rose at a slower pace of 0.30% compared to December’s 0.80% and expectations of 0.60%. The optimistic results have record low borrowing rates set by the Central Bank and continually rising wages and employment metrics to thank, according to NBS Chief Economist Robert Gardner. The Sterling Pound displayed no major movement over the Euro, with the EURGBP pair continuing upward to a high of 0.7593 after the announcement.