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UK Central Bank Acts to Avoid Repeat of '07-08 Credit Crunch

The Bank of England is acting to avoid a repeat of the 2007-08 credit crunch, announcing Tuesday that it is freeing up more loans to businesses and households to help the economy cope with the uncertainty surrounding the exit from the European Union. Governor Mark Carney told reporters Tuesday that some of the risks predicted to the economy before the referendum on leaving the EU have begun to crystalize but that the central bank will act to support jobs and growth. "We have...

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