HISTORY REPEATING? Fears of ANOTHER financial crisis as borrowing reaches 11-year high
BRITISH households racked up debts at the fastest rate since March 2005 – the run up to the financial crisis – sparking fears of a borrowing bubble inflated by low interest rates.
By LANA CLEMENTS
Express.co.uk
Fri, Apr 29, 2016
Consumer credit, including credit cards and personal loans, grew by 9.7 per cent to reach £1.9billion in March.
The last time growth was this high was before the financial crisis of 2007.
The figures have raised concerns that low interest rates and cheap money is pushing Britain’s debt habit out of control.
And borrowers could again be left struggling when interest rates eventually rise back up – or if the economy takes a sudden turn for the worse.
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