Regional Business Information for Yorkshire
£25bn QE extension but interest rates held again
6th November 2009
By Ian Briggs - Editor, Yorkshire
THE Bank of England's ratesetters have approved a further £25bn to be pumped into the economy through its quantitative easing (QE) programme.
Previously £175bn has been spent on QE, a system of introducing more money into the economy involving printing money to buy assets from banks and other companies.
It will be hoped the new measure encourages banks to lend more to individuals and businesses.
As reported on TheBusinessDesk.com yesterday, interest rates were held at 0.5% by the Ban......for the full story register now for free or login below...
More bonuses for bankers on the way !! No real evidence the last £175 bn of printed money has worked so lets keep printing more until it does.!! Interesting that Gold prices are now through the roof( Brown sold most of ours at rock bottom prices remember) as investors ditch the USdollar in haste as Obama pursues the same Zimbabwe based monetary policy we are !! Maybe they will make Mugabe the next Nobel Prize Winner for Economics.
malcolm cowing