Bank of England Lends Banks More
Published / Last Updated on 02/10/2008
Bank of England Lends Banks More
The Bank of England has confirmed today that it will massively increase that amount of money it would make available on 3 month loans to large institutions by making £40bn available on Monday and would carry out similar funding loan exercises every week for the foreseeable future.
In short, the Bank of England will become the primary source of short term wholesale bank borrowing in the UK for the foreseeable future until markets stabilise and banks become comfortable in lending to each other.
Our view is that we become more and more like a state owned, socialist state everyday. With the Government seemingly able to ‘print’ money as commercial banks need it, we cannot see this being good for the economy in the long terms as the pound will devalue.
Useful links:
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
Useful links:
