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Increase in credit card lending in March

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

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1 May 2009

Increase in credit card lending in March”

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The data also revealed that other net loans and advances fell by £0.1 billion.

There was an increase from February in the number of loans approved for house purchase as well. The number of loans was higher than the previous six-month average.

Meanwhile net sales of Isas increased, according to the Investment Management Association (IMA), which could suggest that confidence in the markets is improving.

March saw a rise of 74 per cent in net sales in Isas, according to the data.

Senior investment advisor at Bestinvest, Adrian Lowcock, commented on the rise: "I think the reason is that the markets have settled down a little bit, albeit at a lower level, and people are not rushing to cash in – they are waiting to see what will happen."

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