Following six quarters of decline, lending to individuals expanded at an annual rate of 16% in the fourth quarter of last year, according to figures published on Tuesday by Biuro Informacji Kredytowej, a credit-information body. While mortgage sales were down 6% in 2013 on a year earlier, the last quarter of the year saw a 13% expansion over the previous quarter. The latter figures suggests mortgage lending is likely to enjoy brisk growth this year, the MPC member said.
Bankers expect brisk credit growth in 2014 with lending across the board rising "at least in the high single digits",
The expected pace of credit growth, while a closely watched metric, is not seen as a cause of concern by monetary policymakers at this point in time, the MPC source said.
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