BoE lending figures add credence to FLS scepticism

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The Bank of England (BoE) today said anecdotal evidence showed its Funding for Lending Scheme (FLS) is working, though its research also found lending to businesses continued to contract in the first quarter of 2013.

In its latest quarterly Trends in Lending survey, the British central bank said the stock of lending to both small and medium-sized enterprises (SMEs) and large businesses contracted in the three months to February 2013.

The figures lend weight to European Central Bank (ECB) preside

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