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(OLIVIA HARRIS/Reuters)
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U.K. lending stimulus a start, but it’s no panacea
U.K. banks are having a happy new year. Fourth-quarter data suggests that domestic lenders are making much more credit available, which in turn implies that the Bank of England’s Funding for Lending Scheme (FLS) is working. But the figures don’t prove this latest attempt to kick-start the moribund domestic lending scene will be a game changer.
