Commenting on the Bank of England’s Agents’ Summary of Business Conditions, BBA Chief Economist Richard Woolhouse said it was clear that credit conditions are improving. “In particular, lending to smaller firms appears to be increasing and some sectors where credit had previously been very tight are now able to access bank finance more easily.
“That’s very important. We need businesses of all sizes to be confident about borrowing because that helps them invest and supports economic growth.
“The summary also underlines that the Mortgage Market Review is considered to be behind the slowdown in the housing market and supports the view that new regulation is partly responsible for this cooling.”
BBA describes itself as the “Voice of Banking and Financial Services”.