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East Midlands Chamber News

Lending to businesses has fallen by £4.8bn

Lending to businesses in the UK has fallen by a further £4.8bn in the three months to February, the Bank of England has said.

That represents a fall of 4.4 per cent in loans to companies and small firms from the same period a year earlier, the BBC has reported.

The Bank also said that the mortgage market was "broadly unchanged".

Figures from the Council of Mortgage Lenders (CML) paint a similar picture, with lending in the first quarter of 2013 the same as last year.