In today’s bulletin:
General update
IPA conference – 28/11/2024
There’s NO EXCUSE for economic abuse
Tackling problem debt by CAP and Citizens Advice
Collaborations
Events
General update
According to the Bank of England, net borrowing of mortgage debt by individuals rose by £0.9 billion, to £3.4 billion in October 2024. Net consumer credit borrowing by individuals was £1.1 billion, slightly down from £1.2 billion in the previous month. StepChange has responded to the announcement with words of caution. The inflation rate is showing as 2.3%, above the government target of 2% once again.
Net borrowing through other forms of consumer credit (such as car dealership finance and personal loans) fell from £0.8 billion in September to £0.6 billion in October 2024. There was some offset from net borrowing through credit cards, which increased from £0.4 billion to £0.5 billion over the same period.
The annual growth rate for all consumer credit decreased slightly to 7.3% in October, from 7.5%...
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