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UK lending institutions see worst outlook for organisation loans given that 2008: BoE survey – Reuters

UK lending institutions see worst outlook for organisation loans given that 2008: BoE survey - Reuters thumbnail

FILE PICTURE: The Bank of England is seen in the financial district during rainy weather in London, Britain, September 23, 2018/ File Image

LONDON (Reuters) – British loan providers expect business loans will dry up in the next couple of months at the fastest rate considering that the financial crisis, according to a Bank of England survey on Thursday that augured severely for financial investment as Brexit nears.

The BoE’s gauge of expectations for the schedule of loans to organisations over the next three months was up to -135%in the 3rd quarter from -5.8%in the second quarter, its least expensive level considering that early2008

Banks and structure societies anticipated the schedule of home mortgages to increase slightly in late 2019, the study revealed.

Reporting by Andy Bruce. Modifying by Andrew MacAskill

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