Net Lending To UK Businesses Weakest Since 1998: BoE

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Friday, the latest Trends in Lending from the Bank of England showed that the flow of net lending to UK firms was the weakest since the monthly series began in 1998.

Net flow of lending to businesses declined GBP 15.5 billion in July, following a GBP 3.6 billion fall in June. Major British lenders indicated that their stock of lending to businesses fell further in August.

Further, the BoE said the flow of total net mortgage lending was negative in July, which was the first net repayment since the monthly series began in 1993. The flow of net consumer credit was also negative in July. Most of the major British lenders forecast arrears on consumer credit to increase in the months ahead as they expect unemployment to rise further.

Friday, the latest Trends in Lending from the Bank of England showed that the flow of net lending to UK firms was the weakest since the monthly series began in 1998. (Market News Provided by RTTNews)