UK credit card borrowing increased the most since 2005 as the cost of living crisis deepens, data published by the Bank of England showed Tuesday.
Consumers borrowed an extra GBP 740 billion in July on their credit cards. This was up 13.0 percent from the last year, marking the biggest increase since October 2005.
Other forms of consumer credit gained 4.5 percent, the highest since March 2020.
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by Renju Jaya
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