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Bank of England: Credit card lending increased in April

Credit card lending increased by £0.3 billion in April, according to Bank of England statistics released today.

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3 June 2009

Bank of England: Credit card lending increased in April”

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Meanwhile other loans and advances hardly changed, the Bank reported.

The data showed that total consumer credit in April was below the previous six-month average, at £0.3 billion.

In further news from the Bank of England, the monetary policy committee is to set the interest rate on Thursday this week.

UK economist for Capital Economics, Vicky Redwood, predicts that the rate will stay the same.

"I think that probably won't be for at least another year or maybe even 18 months," she said.

There will have to be signs that the economy is recovering and that inflation is picking up again before the Bank changes the interest rate, she continued.

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