Lack of trust in banks holding back recovery, says BoE’s economist

Nov 23 2013, 02:42 IST
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SummaryBritish businesses' lack of confidence in banks since the financial crisis is holding back economic recovery

British businesses' lack of confidence in banks since the financial crisis is holding back economic recovery, the Bank of England's chief economist Spencer Dale said on Friday.

In a radio interview, Dale said many firms felt unable to rely on banks after they were unable to access credit in the 2008-09 financial crisis.

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