BoE Money and Credit Statistics – January

The Bank of England have published their latest Money and Credit Statistics for the month of January. The key figures highlight that:

• Consumers borrowed an additional £1.6 billion in consumer credit, on net, compared with £0.8 billion borrowed in December
• Of the £1.6 billion figure, £1.1 billion was borrowed on credit cards and £0.5 billion borrowed via other forms of consumer credit
• mortgage approvals for house purchases decreased to 39,600 in January from 40,500 in December
• mortgage lending to individuals decreased from £3.1 billion to £2.5 billion in January.

Source: Bank of England