UK consumer borrowing increased the most in more than three years in June suggesting that households are relying more on credit amid the cost of living crisis and mortgage approvals declined more than expected as the rising interest rate weigh on the property market.
Individuals borrowed an additional GBP 1.8 billion in consumer credit in June, following GBP 0.9 billion of borrowing in May, the Bank of England reported Friday. This was well above economists' forecast of GBP 1.0 billion.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.