Ward downplays BBA figures on impact of QE

Henderson Global Investors' Simon Ward is downplaying figures released by the British Bankers' Assoc...

Henderson Global Investors' Simon Ward is downplaying figures released by the British Bankers' Association showing a £200m fall in sterling lending to private non-financial companies. The company's chief economist says the figures were meant to suggest this would disappoint the Bank of England as it shows quantitative easing is not working. However, Ward notes this is a relatively small decline, representing 0.07% of all BBA member lending to private non-financial companies. He adds the statistics also only include 65% of total loans by UK-based banks to non-financial firms. Ward adds...