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Lending increases by £14bn
Lending to businesses and consumers by banks increased in November following two consecutive months of decline, according to the Bank of England.
The Bank's data revealed that the amount of money available increased by 0.9%, the equivalent of £14.3bn, during November.
This increase has been attributed to the Bank's policies of quantitative easing (QE) and the historic low interest rate. However, November's lending is still way below levels seen in March, when the Bank launched its initiatives. The Bank has so far pumped £190bn into the economy through QE.
The Bank will announce on Thursday whether it will keep interest rates at 0.5%, as widely expected, or increase rates.
Post Date: January 5th, 2010
The Bank's data revealed that the amount of money available increased by 0.9%, the equivalent of £14.3bn, during November.
This increase has been attributed to the Bank's policies of quantitative easing (QE) and the historic low interest rate. However, November's lending is still way below levels seen in March, when the Bank launched its initiatives. The Bank has so far pumped £190bn into the economy through QE.
The Bank will announce on Thursday whether it will keep interest rates at 0.5%, as widely expected, or increase rates.
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Post Date: January 5th, 2010
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