Expectations have been building in the markets that the Bank of England was willing to unleash another round of quantitative easing on the UK economy to boost flagging growth as early as next month.

市场已形成这样的预期，即英国央行最早将于下个月展开新一轮量化宽松以促进迟滞的成长。

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The access to a flow of funds from the Bank of England means that banks and building societies do not need to be so competitive when chasing deposits from savers.

BBC: UK mortgage market 'now more robust'

And he welcomes the recent move by the Bank of England to allow banks and building societies to swap potentially risky mortgage debts for secure government bonds to help them operate during the credit squeeze.

BBC: Warning on slow mortgage recovery

The Bank of England has been offering cheap funds to banks and building societies, provided it is then lent to individuals and non-financial companies.

BBC: UK mortgage market 'now more robust'