home pagethe celebrity angels seriescoming soonsubscribecontact us
 Site  Web 
Baby Beauty Business Celebrity Health Home Kitchen Travel
Bartercard grows in the UK as businesses cut costs Bartercard grows in the UK as businesses cut costs
EU governments commit €3 trillion to bank rescues EU governments commit €3 trillion to bank rescues
Internet scams target the unemployed Internet scams target the unemployed
Graduates to be given internships on new government scheme Graduates to be given internships on new government scheme
Sofie Allsopp Sofie Allsopp
James Martin James Martin
Jemma Kidd Jemma Kidd
» With the housing market uncertain, location is vital
» Celebrity Angels: Travel coming soon
» Be the perfect hostess this party season
» Find out which fabric will complement your room
» Wallpaper is back - see what's hot and what's not
 
 
Lull in bank lending must end
The Bank of England has reported lending has fallen by £2bn

UK banks must begin lending to businesses to combat the recession

The flow of lending is essential for the growth of the economy, the Organisation for Economic Cooperation and Development (OECD) has reported the combined economies of its 30 member states – the world’s most industrialised countries – will shrink 4.1% this year. They also say that the current conditions, ‘continue to have a negative impact on activity.

It is essential that the supply of new lending is not held back any longer by banks with insufficient capital to meet losses associated with past lending’. The Bank of England has reported that lending to businesses fell by £2bn from April, and was 2.1% down from April 2008, despite fresh capital from the government and cash boosts into the financial system through purchases of gilts and bonds – a process known as quantitative easing. Howard Archer, an economist at Global Insight says, ‘This is worrying for recovery prospects and reinforces the belief that the Bank of England may feel compelled to further extend its quantitative easing program, despite recent improved economic data and survey evidence’.

ADD YOUR COMMENT
*Name:
Company name:
*Email:
Comment:
Remember my personal information
Notify me of follow-up comments?

Please enter the word you see in the image below:


Win a £50 voucher for gift website Gone Digging!
 
Win a gift of your choice!

Choose your own prize with No More Sox!
 
 
 

Oxygen10 Ltd 2008. All rights reserved
Terms & Conditions | Privacy Policy | Site map

Oxygen 10 | Boston Hannah International | Today's Business Women | EUCommerz