Money and Credit – October 2018

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Lending to individuals (Tables A-E) Consumer credit (Tables B and C):

The net amount of new consumer borrowing, excluding mortgages, was £0.9 billion in October (Chart 1). Within this, net credit card borrowing was slightly lower than September, at £0.4 billion, while borrowing for other loans and advances was slightly higher at £0.5 billion. Since July, the net flow of consumer credit has averaged £1.0 billion, somewhat less than an average flow of £1.5 billion since early 2016.

The annual growth rate of consumer credit slowed further in October, to 7.5%, reflecting the weaker lending flows seen in recent months. This was the lowest since May 2015, and well below the peak of 10.9% in November 2016.

Chart 1: Consumer credit


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The Bank of England was founded as a private bank in 1694 to act as banker to the Government. Today we are the UK’s central bank. This timeline looks at some of the highlights from our long history. The Bank of England is owned by the UK Government, and accountable to both Parliament and the general public.

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