So, more drugs to deal with our collective lack of growth. The Bank of England’s Funding for Lending extension is welcome: the scheme lasts longer than before, contains extra incentives to lend to cash-strapped small and medium-sized enterprises and has been widened to include non-bank sources of credit, including financial leasing corporations. And after some remarkably soggy eurozone data – including purchasing manufacturers index figures suggesting that the German economy is not quite as dynamic as Bayern Munich – investors are increasingly hopeful that the European Central Bank will come to the rescue, buying up equities as if the dark clouds are about to lift. Read more
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