UK credit card borrowing soars – Guardian ...News

Russia Today - Economy
UK credit card borrowing soars – Guardian
source : Russia Today ( News ) () 27
Borrowing has surged at the fastest rate in 17 years, the news outlet has reported Credit card borrowing in the UK accelerated in June at the fastest yearly rate since 2005, The Guardian reported on Tuesday, citing data from the Bank of England. According to the report, borrowing jumped by £740 million ($836 million) month-on-month, coming in 13% higher than at the same time last year. Broader consumer credit, which includes unsecured personal loans and overdrafts, spiked to £1.42 billion ($1.65 billion), surging 6.9% – its fastest annual increase since March 2019. The regulator said that borrowing using all forms

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