Submitted on Thursday 24th April 2008
Support from BOE for finance markets
As some lenders stop lending and others become overburdened, the mortgage markets need all the good news they can get at the moment so funding support from the Bank of England is most welcome
The Bank of England has pledged £15bn to address liquidity issues in the short-term money markets at a ration of £5b each week until April 9th and lent at a rateof 5.35% on three day offer
Lack of confidence in the market and a reluctance for interbank lending has led to the need for intervention
