BoE credit survey shows crunch impacting lending

The Bank of England's credit conditions survey, published on Thursday, signalled a marked decline in lending to households and businesses towards the end of 2007.

The survey, which looked at lenders' habits the final quarter of last year, showed that, contrary to expectations, secured lending to households had "reduced materially" over the three months to mid-December. Unexpectedly, spreads for secured lending also widened, indicating that borrowing for households has become dearer.

The Bank

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