Ouch, that’s not going to help our fragile recovery
The Bank and HM Treasury launched the Funding for Lending Scheme (FLS) in July 2012. The FLS is designed to incentivise banks and building societies to boost their lending to the UK real economy. It does this by providing funding to banks and building societies for an extended period, with both the price and quantity of funding provided linked to their lending performance
Seems like the banks still looking after No 1
More detail from the Old Lady here
GBPUSD back on the rise again in a rush ( unrelated) and now 1.6730 on session/overnight highs after 1.6693 lows
Scrappy markets and I’m in no rush to get involved still today but favour a sell again at better levels toward 1.6750
