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LONDON - THE Bank of England will announce a plan to swap government bonds for commercial banks' mortgage debt, Britain's Finance Minister Alistair Darling said on Sunday.
The move is an attempt to break a lending squeeze gripping the home loan market.
Pressure has been growing on the British government and the Bank of England to do more to resolve a mortgage debt crisis threatening to slam the brakes on the economy and which is contributing to a slump in support for Prime Minister Gordon Brown.
Mr Darling told the BBC that he would make an announcement to the British parliament on Monday afternoon. -- REUTERS
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