Inflation has not been falling as fast there as in America and the EU, though the Bank of England thinks this will change when lower wholesale energy prices start feeding through to consumers.
The plan, which resembles the Bank of England's funding for lending scheme, has some merit but may not boost lending as much as expected due to the feeble state of the banks.
The British economy contracted in the third quarter, by 0.2% over the previous three months, on cue for the start of a long recession that the Bank of England has forecast.
An appeals court in London has overturned a judgment that the Venezuelan opposition leader, Juan Guaido, has controlled over a billion dollars of gold bullion held in the bank of England.
The insipid performance is in line with updated forecasts from the Bank of England, which thinks the economy will now stagnate in the first half of this year, rather than fall into a recession.
The Bank of England has said that the early 19th century novelist Jane Austen will become the face of the new 10-pound note following criticism that women are underrepresented on British bank notes.
The new demands could also create conflict with the Bank of England, which earlier this year asked UK lenders to seek approval before relocating more jobs or operations to the EU.
Hundreds of the world's biggest banks, insurers, and investment funds have signed up to a climate coalition led by the former Bank of England governor Mark Carney.
The International Monetary Fund has openly criticized Britain's new economic strategy, following another slide in bond markets that forced the Bank of England to promise a " significant" response.