Bank lending continues to fall

The Bank of England has just published its Trends in Lending report which seems to present nothing but bad news. It says that in the second quarter of 2009 total net lending to businesses fell across all the main industrial sectors.  Gross lending (not allowing for any repayments) fell from £42.9bn in the first quarter of 2009 to £27.3bn in … Continue reading

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A difficult position for a long time to come

“We will still find ourselves in a difficult position for a long time to come”, said Mervyn King, governor of the Bank of England, in the Bank’s latest quarterly inflation report. He noted that the economy is still in a deep recession and our financial system remains “fragile”.   In fact the governor reported bad news and good news as … Continue reading

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Lending to UK businesses remains weak

A study by the Bank of England entitled “Trends in Lending” has just been published. This shows that net lending to businesses has remained weak. The official data covers lending by all banks and building societies and shows that the monthly flow of net lending in March 2009 was “subdued, though positive.”  When looking at the three month annualised growth … Continue reading

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