FX.co ★ UK Consumer Credit Rises in July as Borrowing Momentum Builds

Bank of England data show UK consumer credit growth accelerated in July 2026, signaling stronger borrowing activity among households. Consumer credit rose to £2.006 billion in July, up from £1.807 billion in June 2026.

The latest figures, updated on 1 September 2026, suggest demand for unsecured lending — such as credit cards and personal loans — continued to climb over the summer. The increase may reflect both resilient consumer spending and growing reliance on credit amid ongoing cost-of-living pressures.

Market participants and policymakers are likely to watch upcoming readings closely to assess whether this upward trend in borrowing poses risks to household balance sheets or indicates renewed confidence in the UK’s economic outlook.