Bank of England come to the rescue
Posted on April 18th, 2008 by Michael
The Bank of England has announced plans today that it will be swapping £50bn worth of government bonds for British Banks’ mortgages. There are hopes now that the banks will be more willing to lend to each other and also homeowners.
There have been a few minor attempts to stop the UK from going into recession by the Bank of England but the Treasury still thinks that this is a delayed response and is frustrated at the slowness of the banks reactions.
Get your boxing gloves on lads!
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