Bank of England Money and Credit Statistics – December

The Bank of England (BoE) have published their Money and Credit Statistics for December 2022. The key figures highlight that:

• Consumers borrowed an additional £0.5 billion in consumer credit, on net, compared with £1.5 billion borrowed in November.
• The annual growth rate for all consumer credit increased from 7.0% in November to 7.2% in December.
• Net borrowing of mortgage debt by individuals decreased from £4.3 billion to £3.2 billion in December.
• Mortgage approvals for house purchases decreased to 35,600 in December from 46,200 in November, the lowest since May 2020.

Source: Bank of England