The Bank of England will expand its programme of money creation by £25bn over the next three months to boost Britain's recession-hit economy, Threadneedle Street announced today as it left interest rates unchanged again.Warning that UK banks are still failing to provide enough credit to businesses and households, the Bank said it would increase the size of quantitative easing (QE) to £200bn.The Bank's nine-strong monetary policy committee also pegged bank rate at its record low level of 0.5%, where it has been since March. It said cheap borrowing and QE were needed to prevent inflation falling below its 2% target.
The Bank of England will expand its programme of money creation by £25bn over the next three months to boost Britain's recession-hit economy, Threadneedle Street announced today as it left interest rates unchanged again.
Warning that UK banks are still failing to provide enough credit to businesses and households, the Bank said it would increase the size of quantitative easing (QE) to £200bn.
The Bank's nine-strong monetary policy committee also pegged bank rate at its record low level of 0.5%, where it has been since March. It said cheap borrowing and QE were needed to prevent inflation falling below its 2% target.
It never makes it into the economy, so how can it help keep the economy going ? keep to the Fen Causeway
In finance, money doesn't enter into the normal currents of the economy. It is simply passed from incestuous hand to incestuous hand, each transaction shedding fees and charges until there is nothing left of the original capital. This is then hived off in tax free bonuses to Monaco or the channel Is, never to be seen again. keep to the Fen Causeway
I believe you did once have a mortgage?
