The Bank of England said today the recession had probably bottomed out, but warned that any recovery would be hampered by the ongoing reluctance of banks to lend to consumers and businesses.
According to The Guardian, releasing a quarterly inflation report likely to cement expectations that interest rates could stay at record lows for a long time, the monetary policy committee forecast that inflation would probably remain below its 2% target for at least two years even if it kept rates at 0.5% and flooded the economy with £125bn of "quantitative easing". Full story… Abbey, the country's second-largest mortgage lender, will relax the lending criteria on its most popular home loans tomorrow, providing a significant boost to the mortgage market, The Times reports. The lender, ...
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