BoE to ease financial stress

In a move aimed at offering some respite to the financial system, the Bank of England has offered UK banks access to a new supply of emergency Sterling funding, citing the “continuing exceptional stresses” in financial markets as a reason for the move. Meanwhile, data released this morning indicated that the shop price index rose at its’ slowest pace in a year for November while industrial output for October fell more than expected and at its fastest pace in six months.

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BoE to ease financial stress

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