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Encouragement for First Time Buyers

A new scheme to prompt banks and other lenders to make more money available to homeowners has come into operation.

Under the Funding for Lending initiative, the Bank of England will lend money at below-market rates to the financial institutions. 

The Bank will then monitor their progress in lending the cash out.

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What the ECB hopes to do to help the eurozone

On Thursday the 2nd August, the president on the European Central Bank (ECB), Mario Draghi, held a press conference to announce its plans to save the euro, having said a week earlier that they will do “whatever it takes”.

However, the lack of detail and immediate action has caused the euro markets to fall and many analysts are disappointed in what they heard at the ECB news conference in Frankfurt.

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