These monthly statistics on borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the banking system.
- The net flow of consumer credit was £1.3 billion in October, above the £1.1 billion average since July 2018.
- Lending in the mortgage market continues to be steady, around the trend of the past three years. Net mortgage borrowing picked up on the month to £4.3 billion, whilst mortgage approvals for house purchase fell slightly to 65,000.
- UK businesses made net repayments of £0.9 billion of finance in October, driven by a weakening in borrowing from both banks and financial markets.