The Bank of England is being pressured to extend its quantatitive easing (QE) programme by another £25 billion ahead of the monthly meeting of the Monetary Policy Committee (MPC) tomorrow (August 6th).Calls for the Bank to pick up the remaining slack offered by the Treasury in the April budget, when the £150 billion QE strategy was announced, have grown more vociferous after new figures from Threadneedle Street itself showed that business lending constricted further in the second quarter of the year.Lending to non-financial sectors slumped by an unprecedented £14.7 billion, reigniting fears that recovery could be hindered by the lack of credit.Speaking to the Times, Stephen Lewis, an analyst at Monument Securities, said that the areas of business deemed to be vulnerable were experiencing the worst of the lending squeeze.When it meets tomorrow, the MPC will also decide whether to keep interest rates at the current 315-year low of 0.5 per cent.