In an attempt to save the economy the Bank of England looks set in offering lenders £11.4bn in funds.
This will of course lessen the credit crunch which has turned global.The focus is to help lending between commercial banks and retail which has risen in the last few weeks.
This follows a similar tact from the US federal reserve who through auction made 20 billion US dollars available.
Credit problems cannot be solved overnight but these measures may well help. Despite interest rates being cut in the UK and US lending rates have remained high.