Rise in private sector credit lowest in 15 years
The annual rate of increase in PSC continued to decline in March to 2.3% from 4.8% in February. âThis is the lowest annual increase since January 1994,â the bank said.
A major component in the slowdown was mortgage demand, which increased by a net âŹ20 million last month. This historically low level contributed to the fall in the annual rate of increase in residential mortgages (inclusive of securitised mortgages) to 4.2% in March, from 4.9% in February.
