The BBA's latest high street banking data shows that household borrowing of £13.4 billion in February was 4.6% higher than in the same month last year.

The BBA's latest high street banking data show that consumer credit is growing at an annual rate of 6.6%.

Gross mortgage borrowing of £13.4 billion in February was 4.6% higher than in the same month last year. After allowing for repayments, February's net mortgage borrowing was 2.5% higher than in February 2016.

Business borrowing continues to be subdued growing by 0.9% annually.