Households may be two-thirds the way through the necessary deleveraging process. What’s more, a larger proportion of the remaining deleveraging will be achieved by incomes growing rather than debt...

The surge in demand for residential mortgages reported by the Fed’s latest Senior Loan Officer Survey could further encourage the FOMC to launch QE3, and perhaps some kind of Funding for Lending...

We now think that the Fed will provide more policy stimulus when the FOMC next meets in September. The most likely scenario is a third round of asset purchases (QE3), this time focusing on mortgage...

The Bank of England’s new Funding for Lending Scheme (FLS) got underway last week. If the FLS doesn’t work, more radical action to boost bank lending will be needed.