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Evening Standard
Evening Standard
Business
Simon English and Michael Hunter

Spike in credit card borrowing adds to City fears and market jitters over UK economy

The Bank of England is raising interest rates to fight inflation (Yui Mok/PA)

(Picture: PA Archive)

The pound fell to fresh lows, UK bonds came under severe selling pressure and there were signs that mortgage lending is tumbling in a move that could erode the strength of the housing market.

A mixture of official figures and City sentiment combined to ensure another jittery day on the markets.

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