Cleveland Fed researchers find fault with BoE’s Funding for Lending

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Research published by the Federal Reserve Bank of Cleveland on August 1 says other central banks are "keenly interested" in the Bank of England's Funding for Lending Scheme, but finds a number of reasons why it may be ineffective or even threaten central bank independence.

Authors Owen Humpage and Maggie Jacobson say markets seem cautiously optimistic about the scheme, but a number of uncertainties remain. The research suggests current low lending may be due to limited demand for debt, rather

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