---
title: The credit channel of monetary policy: direct survey evidence from UK firms
url: https://www.ml-quant.com/papers/repec/boe-boeewp-023260/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:boe:boeewp:023260
source_url: https://econpapers.repec.org/RePEc:boe:boeewp:023260
featured: 2026-09-25
citations: unknown
topic: Risk, Credit & Banking
---


# The credit channel of monetary policy: direct survey evidence from UK firms

UK firm survey data validates that external borrowers face larger cost-of-capital increases and cut investment more than internal funders when rates rise, accounting for a quarter of monetary policy's total effect.

- Source: https://econpapers.repec.org/RePEc:boe:boeewp:023260
- Identifier: RePEc:boe:boeewp:023260
- Released: 2026-09-14
- First featured: Quant Letter No. 132 (2026-09-25): https://www.ml-quant.com/issues/2026-09-25/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Risk, Credit & Banking
- Authors: Krishan Shah, Phillip Bunn, Jonathan Haskel

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