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Voice of the Commonwealth - The Global Influencer

Voice of the Commonwealth - The Global Influencer

Increased borrowings reflecting bullish consumer mindset?

LONDON (CU)_ UK households are currently facing a cost of living catastrophe, coping with prices pressures which reached a 10-year high in November. As a result, consumer borrowing has also escalated in the European nation, although some experts are of the view that the ongoing inflationary squeeze is not entirely responsible for the recent developments.

 According to the latest figures published by the Bank of England, consumer borrowing on credit cards in November…

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