BoE scheme lent £10.8bn to 35 firms

The scheme is advancing funds at a run rate of half a billion pounds a day, according to Andrew Bailey, Governor of the Bank of England. Interest rates have been cut to just 0.1 per cent, a record low, and it has pledged to carry out billions of pounds more quantitative easing, which floods the system with newly-minted money. In an interview with the Daily Mail, Governor Bailey said he did not believe the actions taken would fuel inflation.  The large company loan scheme, he said, is doing what it is meant to do: 'It has saved jobs.