More on the U.K. "funding for lending" scheme: "The case for a further monetary ease is...

|By:, SA News Editor

More on the U.K. "funding for lending" scheme: "The case for a further monetary ease is growing," says BoE Governor King. The plan he describes sounds like a U.K. version of the LTRO, where banks would receive cheap loans (against a wide range of collateral) with a maturity measured in years. Unlike the EU - where it was assumed the banks would use the funding to buy sovereign debt - U.K. banks will be expected to make loans into the economy. (full speech)