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mpc: 19 The latest Bank of England Credit Conditions Survey had revealed a further reduction in the availability of credit to both households and corporate sectors during the fourth quarter of 2008. Additional tightening was expected in the first quarter of 2009. Data on bank lending had been weak but the growth of mortgage lending had not slowed any further in November. The largest lenders to UK individuals had sustained their mortgage lending growth during the autumn, but many smaller lenders had sharply contracted lending or left the market altogether. The growth of loans to non- financial businesses also appeared to have stabilised, although at a low rate, and corporate credit conditions remained tight. The Bank's regional Agents had reported that businesses had seen a further tightening in availability of both bank funding and trade credit. Business investment looked set to remain weak for much of 2009. The Committee noted that those firms which were relatively successful through this period would eventually increase investment to take advantage of the opportunity to grow their businesses faster.