/24-7PressRelease/ - LONDON, UK, March 30, 2007 - Demand for personal loans witnessed a decline in February. This fact has been revealed through the figures released by the Major British Banking Groups.
Over the course of the month, a decrease of 0.2 billion on unsecured personal lending was seen. The amount is much lower than the 0.3 billion lending witnessed in January.
Director of Statistics at the British Bankers' Association, David Dooks commented that consumer appetite for credit remained subdued. He also added that there was little personal loan demand.
On the other hand, January had witnessed a rise of 189 million on personal loans. This suggested the immediate financial strain imposed in the aftermath of Christmas.
In the meantime, the minutes from meeting of Monetary Policy Committee of Bank of England has been published. The MPC's decision to keep interest rates at 5.25% earlier in the month was supported by an 8-1 split. It is expected that the next interest rate decision will be declared on April 5th.
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