UK lenders are set to tighten their credit conditions, applicable to both secured and unsecured lending to households in the first quarter of the year, the latest Credit Conditions Survey from the Bank of England showed Thursday.
Banks reported a fall in the availability of secured credit to households in the fourth quarter and they expect another fall over the first quarter.
Similarly, the availability of unsecured credit to households that include credit card and other unsecured lending, decreased in the three months ended November and lenders projected the availability to fall further in the next three months to February. Regarding credit to the corporate sector, banks said the supply remained unchanged in the fourth quarter, but it is set to drop only slightly over the coming quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.