Property News · November 29, 2017

UK consumer credit growth falls to 18-month low


Decline will soothe Bank of England fears about reckless lending when household incomes face squeezeThe UK’s consumer debt boom eased back in October after growth in lending on credit cards and loans fell to an 18-month low.The Bank of England said unsecured consumer credit grew by 9.6% year on year in October, down from 9.8% in September, soothing fears that banks were lending recklessly at a time when household incomes have come under pressure from stagnant pay growth and high inflation. Continue reading…

Source : theguardian.com
Read more…UK consumer credit growth falls to 18-month low