Tag Archives: mervyn king

British Banks Reluctant To Loan

The Labor government is working to restore confidence among banks over lending to one another. The Bank of England governor testified before parliament. He wants a second five-year term as leader of the UK’s central bank. Mervyn King says he … Continue reading

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UK Interest Rates Not Falling Any Time Soon

So the UK Chancellor Alistair Darling met with the big lenders today and tried to talk them into lowering their interest rates. That ain’t happening soon. The banks see the country is headed for recession. That means more defaults on … Continue reading

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Mortgage Panic Spreads

Bloomberg says the Bank of England is about to cut interest rates again. This is England’s biggest mortgage mess since 1991 (though it does not have things as bad as America in this respect). The UK economy is not expected … Continue reading

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