British consumer lending rose last month at its fastest since May 2019 – boosted by a big rise in credit card borrowing as households face a cost-of-living squeeze – while the number of mortgage approvals fell to the lowest since June 2020.
The Bank of England data add to signs that the highest inflation in 40 years is hurting the economy and come as the BoE considers whether it should raise interest rates next week by more than it has in a generation to get inflation under control.
Distribution Finance Capital Holdings plc (LON:DFCH) is UK specialist commercial lending and personal savings bank. From straightforward savings to practical finance solutions, our aim is to help customers manage and grow their business or savings. Founded as a specialist commercial lender in 2016, DF Capital was authorised as a bank in September 2020.