	bank of england lends one billion stg at pct the bank of england said it had lent one billion stg to the discount market for fourteen days at pct this brings the banks total help today to some billion stg and satisfies the estimated shortage in the system today which it had earlier estimated at billion stg the bank s announcement this morning that it was willing to lend two week money at pct was interpreted by the market as a sanction for lower u k base lending rates the u k clearing banks swiftly took this up cutting their base rates by a half point to pct at midday the central bank lowered its money market dealing rates by the same amount reuter 
