Business leaders have welcomed the Bank of England's move to improve liquidity.
Confederation of British Industry director-general John Cridland said the Bank's action was a sensible pre-emptive move and would provide new liquidity to banks at a time of greater Eurozone related turbulence in the financial markets.
He added: ‚€?The new ‚€?Funding for Lending‚€? scheme will need to be practical for banks to participate, offer lower funding costs than found on the markets and most importantly, be easily accessible to small and medium-sized businesses who will be the backbone of our future economic recovery."
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