UK plans joint BoE-government funding scheme


The UK's chancellor of the exchequer, George Osborne, and the governor of the Bank of England (BoE), Mervyn King, today (June 14) announced that funding help was on the way for UK banks.

In a generally gloomy assessment of the outlook – there were five references to "black clouds" over the economy – King acknowledged the "case" for action: "With signs of a deterioration in the outlook, especially in world markets, the case for a further monetary easing is growing," he said of the current

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