Bank of England to Boost Lending

The Bank of England intends to boost the availability of finance for banks, a move which could help them lend to consumers.

Describing the bank as “open for business”, he said it would offer money for longer periods and widen the range of assets accepted as collateral.

He justified the move by saying that banks were healthier and had to meet tougher standards.

He also said there were reasons to believe the recovery was sustainable.

“One of the reasons to think there could be some sustainability, some traction in the recovery is that the core of the financial system has gotten a lot better,” he said.

“I won’t say it’s fully healed, but it’s gotten a lot better and the rebuilding of [bank] capital is a big element of that.”

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza