High street banks predict borrowing on cards will fall to lowest since 2007 with mortgages down to 2010 level
Borrowing on credit cards is expected to plunge to the lowest levels since 2007 in the three months before Brexit, according to the Bank of England, in the latest indication of stresses facing the UK economy.
According to the latest quarterly healthcheck on credit conditions from Threadneedle Street, high street banks forecast borrowing on plastic will decline in the first quarter by the most since records began 12 years ago.
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