Sarah Hewin, Chief Economist at Standard Chartered
Media playback is unsupported on your device
Video

Demand for borrowing remains low

The appetite for borrowing among consumers remained weak in September, according to figures from the Bank of England.

The number of mortgages approved for house purchases was almost unchanged from the previous month at 47,474, as the housing market stayed on a plateau.

Net mortgage lending was down on the previous month but higher than July.

Borrowing through personal loans and credit cards rose slightly in September but consumers remained cautious.

Sarah Hewin, Chief Economist at Standard Chartered, told the BBC that the numbers can be ''quite volatile".

Go to next video: Osborne: "We have to see this through'