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The British Are Bingeing on Credit

And it’s starting to worry the Bank of England
Data: Bank of England; graphic by Bloomberg Businessweek

One thing that helped the U.K. economy outperform since the Brexit vote was consumer spending. But the source of their funds has been cause for concern at the Bank of England, which warned this year that household debt remains high, and rapid credit growth could pose a risk if underwriting standards aren’t up to scratch. Regulators are reviewing the issue, and the BOE may have more to say on Tuesday when it publishes its Financial Stability Report.

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