Consumer borrowing starts to cool
The latest figures from The Bank of England reveal that unsecured borrowing is starting to slow down.
The increase in net consumer credit in December, £0.6bn, was below that in November and below the previous six-month average.
Net credit card lending rose by £0.3bn, slightly below the increase in November.
Net other loans and advances also rose by £0.3bn, £0.6bn lower than the November increase.
The annual and three-month annualised growth rates of consumer credit fell by 0.3% to 5.7% and 1.6% to 6.3% respectively.