Bank of England moves to boost British economy June 14 http://buzz.money.cnn.com/2012/06/14/bank-of-england-euro-crisis/
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The Bank of England and the Chancellor of the Exchequer are working on new policies to support the British economy, BoE governor Mervyn King said Thursday.
"With signs of a deterioration in the outlook, especially in world markets, the case for a further monetary easing is growing," King said in a speech to business leaders in London.
King said he is working with Chancellor George Osborne on a "funding for lending" scheme to help spur bank lending and stimulate economic activity.
"In present circumstances, when private sector spending is depressed by extreme uncertainty, there may be a case for a scheme to underwrite risks which the market itself is unwilling to take," said King.
The scheme would provide funding to banks for "several years" at rates below current market rates, he said. The funding would be linked to the banks' performance in lending to the real economy "during the present period of heightened uncertainty."
---- FC -- During times of Universal Deceit, telling the truth becomes a revolutionary act - George Orwell