Borrowing still increasing but at a slower rate
The annual rate of private sector borrowing has levelled off at approximately 20% according to the Central Bank.
Private sector credit stood at €347.7bn for July.
The latest figures from the Central Bank underline the slowdown in the housing sector with the annual growth rate of mortgage lending at 17.9% - its lowest in 5 years.
Mortgages accounted for €133bn of private sector credit .
The month on month increase for the month was €1.6bn which was a third lower than the increase for the same month last year.
