Bank of England Lending Scheme Starts Today
Published / Last Updated on 31/07/2012
Bank of England Lending Scheme Starts Today.
The Bank Of England (BoE) has today announced a new scheme that encourages lenders to allow more money to be readily available to businesses, home owners and first time buyers. Under this new scheme the BoE will allow money to be lent out at a rate below that of the current market to businesses.
The BoE will still monitor the money to see if this scheme is a success or failure. The current reviews and statistics suggest that the scheme is a success as lenders are lending more money to more people stimulating the economy.