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.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.