Bank of England: Funding for Lending has been a success

The Monetary Policy Committee of the Bank of England has said that the Funding for Lending scheme has achieved the objective of creating a situation in which funding no longer holds back bank lending.

Governor Mark Carney said that, while the bank does not know what shocks the UK economy will face over the next three years, the bank as a whole will "continue to look at any sensible adjustments that can be made to our facilities within the context of our mandate to appropriately support credit creation in this economy".