{"id":1392,"date":"2016-07-06T12:24:26","date_gmt":"2016-07-06T12:24:26","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1392"},"modified":"2016-07-06T12:24:26","modified_gmt":"2016-07-06T12:24:26","slug":"bank-of-england-releases-150bn-of-new-lending-in-bid-for-buoyant-economy","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/bank-of-england-releases-150bn-of-new-lending-in-bid-for-buoyant-economy\/","title":{"rendered":"Bank of England releases \u00a3150bn of new lending in bid for buoyant economy"},"content":{"rendered":"<p>The Bank of England (BoE) has released up to \u00a3150billion of new lending to businesses and individuals across the UK \u2013 which many believe could pave the way for cheaper mortgages and a potential drop in interest rates.<!--more--><\/p>\n<p>The shake-up comes following the result of the recent European Union (EU) Referendum, which seems to have cast a shadow of uncertainty over Britain\u2019s future.<\/p>\n<p>In a bid to do \u201cwhatever it takes\u201d to keep Britain\u2019s economy buoyant, BoE Governer Mark Carney has announced that banks and building societies will be allowed to use part of their so-called \u2018capital buffer\u2019 to fund increased lending.<\/p>\n<p>Mr Carney said: \u201cThis is a major change. It means that three quarters of UK banks accounting for 90 per cent of the stock of UK lending will immediately &#8211; immediately &#8211; have greater flexibility to supply credit to UK households and firms.\u201d<\/p>\n<p>The news comes just one week ahead of a potential cut in the BoE\u2019s base rate.<\/p>\n<p>Analysts have predicted that a 0.25 per cent drop is the most likely scenario in the short-term \u2013 but some have gone as far to suggest that the BoE\u2019s base rate could be cut to zero by the end of summer 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of England (BoE) has released up to \u00a3150billion of new lending to businesses and individuals across the UK \u2013 which many believe could pave the way for cheaper mortgages and a potential drop in interest rates.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1392"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1392"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1392\/revisions"}],"predecessor-version":[{"id":1393,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1392\/revisions\/1393"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}