Record Fall In UK Lending

The flow of net lending to British firms fell in July by the biggest amount on record, the Bank of England said on Friday, in a further sign that more may need to be done to get credit flowing in the economy again.

However, mortgage approvals by major lenders rose in August for the seventh consecutive month to 57,000 from 53,000 in July, the BoE's monthly Trends in Lending report showed.

The net flow of lending to businesses fell 15.5 billion pounds in July after a 3.6 billion pounds fall in June -- the biggest decline since the series began in 1998.

Read more here.

financialnewsroundup.blogspot.com