According to Bank of England data, a net decline was driven by lower credit card borrowing, which slid from £800million to £500million.
Other forms of consumer lending such as personal loans and car finance also fell – down £100million to £900million.
At the same time, the Bank said the annual growth rate for credit cards and other forms of consumer credit dropped from 11.9% to 7.3%.
This story is from the April 03, 2024 edition of Daily Express.
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This story is from the April 03, 2024 edition of Daily Express.
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