British consumers will get a three-month freeze on loan and credit card payments to weather the COVID-19 epidemic, under plans outlined by the country's financial regulator on Thursday.

The "stop-gap" package complements relief already announced by the government to support mortgage-holders, furloughed staff, renters and the self-employed. It includes pledges to slash to zero interest rates on arranged overdrafts up to £500, for up to three months.

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