Economic news

UK consumer lending jumps 10% in September

The annual rate of credit card borrowing rose 9.9% in September, according to the latest data from the Bank of England.

Credit card lending increased by 9.2% from the rate of 8.9% in August and the strongest since April.

Overall non-collateral loan surged by £1.6bn in September, taking the annual rate to 9.9%.

Such increase in lending may push the Bank of England to raise interest rates on Thursday.

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