Lending in the eurozone is contracting at an increasingly rapid pace, strengthening the case for European Central Bank caution next week when it unveils fresh steps to unwind emergency measures taken to combat the economic crisis.
Bank lending to the private sector fell year-on-year for the first time in September but ECB data for October, released on Thursday, showed the annual rate of decline accelerated from 0.3 per cent to 0.8 per cent.
