FX.co ★ UK Consumer Credit Growth Accelerates in January as Borrowing Climbs to £1.812B

Consumer borrowing in the United Kingdom picked up pace at the start of 2026, with Bank of England (BoE) data showing that consumer credit rose to £1.812 billion in January 2026. This marks an increase from £1.524 billion in December 2025, highlighting renewed momentum in household borrowing.

The latest figures, updated on 2 March 2026, indicate that consumer credit growth strengthened month-on-month, suggesting that UK households either became more willing to take on debt or faced greater financing needs after the year-end period. While the data does not break down the components, consumer credit typically includes borrowing on credit cards and other unsecured loans.

The January rise in consumer credit will be closely watched by market participants and policymakers as an indicator of household demand and financial resilience. The acceleration from December’s level may carry implications for the broader outlook on consumer spending, debt sustainability, and the Bank of England’s assessment of economic conditions in early 2026.