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Categories: Economics / Markets| Europe
Topics: quantitative easing| Bank of England| monetary policy committee
The Bank of England will this week pump at least £50bn into the economy, according to a report in the Independent.
It follows a 0.2% contraction for the British economy in the final three months of 2011.
The Bank has already bought £275bn in gilts since its policy of quantitative easing began in March 2009.
Now City analysts believe Threadneedle Street will further prop up the recovery with an extra £50bn in QE.
Lloyds Bank corporate markets analyst, David Page, said: "Our central call is that the pace of improvement will slacken, and concerns about credit provision will see the MPC provide stimulus well beyond current levels."
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QE Madness!
Everytime the B of E prints money the value of the £ decreases and inflationary risks increase. ALL the banks have been doing is getting hold of cheap credit off them & lending it back to the government for a profit on long term Gilt rates - it's become like one big QE recycling centre! If you or me printed money in our back bedrooms, we'd be arrested. What's the difference when the B of E does it by writing numbers on pieces of paper..can someone please explain? At least you and I might spend the extra dosh...and not just lend it back to governments. What government needs to do is regulate the banksters gambling activities and open up a national bank to assist SMEs & families to get out of Zombie debt situations and stimulate the economy.
Posted by: FemaleIFA