Borrowing rate at five-year high

THE level of borrowing is growing at the fastest rate recorded in five years, according to new figures from the Central Bank.

Although mortgage lending eased slightly in September, non-mortgage borrowing has continued to soar, the bank's monthly credit figures show.

Some €4.4 billion was borrowed in September, 28.7% more than in the same month in 2004 and up slightly on the amount borrowed in August.