mpc: 24 In the United Kingdom, money and credit had continued to grow at elevated rates perhaps posing
an upside risk to inflation but had not accelerated further. It remained difficult to interpret the high
contribution from money holdings by Other Financial Corporations. Secured lending to households
had continued to accelerate, associated with increased turnover of houses at higher prices. The growth
in unsecured lending, most notably on credit cards, continued to slow. It seemed likely that at least
some of this contrast reflected changing behaviour by the lenders.
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