Bank of England Money & Credit Statistics – June

The Bank of England has published its latest Money and Credit statistics for June. The data highlights that:

• Consumers borrowed an additional £1.8 billion in consumer credit, on net, of which £1.0 billion was new lending on credit cards.
• Net borrowing of mortgage debt by individuals decreased to £5.3 billion in June, down from £8.0 billion in May but remains above its 12-month pre-pandemic average up to February 2020 of £4.3 billion.
• The annual growth rate for all consumer credit increased to 6.5% in June; the highest rate since May 2019 (6.5%)

Source: Bank of England