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Exact(5)
Nor did he expect a rise in rates to affect the pace of lending.
While profits are up, and trading profits are buoyant, the pace of lending is not picking up.
But the pace of lending, frenetic as it was, couldn't keep up with Wall Street firms' demands for raw material.
The Bank's monthly series shows a sharp turnaround earlier this year, from repayments, to a growing pace of lending growth — though 3.5% remains weak by historical standards.
Economists agree on one thing: the pace of lending in China must slow significantly in the rest of this year to avert a crisis.
Similar(51)
However, the fact that the Treasury is willing to countenance setting up a new state-backed institution to lend to businesses suggests there remains deep anxiety in Downing Street about the pace of business lending.
The Fed also plans to pay banks to leave some money on deposit with it to limit the pace of new lending.
Anglo set the pace of the lending charge that created the real estate boom and bust, and many Dubliners want justice.
With the outlook for exports to Europe cratering, the government seems to be increasingly concerned about the possibility of a hard landing, and interested in picking up the pace of bank lending.
But the pace of bank lending is unsustainable, and America's recent experience suggests that it is better to prevent bubbles forming than to mop up the mess afterwards.
In calling the bankers to the White House, Mr. Obama was seeking to capitalize on public anger over the continuation of big bonuses for Wall Street executives, coupled with the slow pace of renewed lending by institutions bailed out by taxpayers.
Related(20)
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