Property News · June 29, 2017

UK in credit splurge as pay is squeezed, Bank of England figures show


Soaring level of borrowing on credit cards, overdrafts and loans could bolster case for interest rate rise, say expertsBritain’s hard-pressed consumers are increasingly turning to credit cards, overdrafts and loans to support their spending, according to the Bank of England.Threadneedle Street’s monthly report on money and credit found that the outstanding amount of unsecured consumer credit rose by 10.3% in the year to May, five times as fast as the growth rate of earnings. Continue reading…

Source : theguardian.com
Read more…UK in credit splurge as pay is squeezed, Bank of England figures show