6
Aug/090
Aug/090
Extra £50bn pumped into UK economy
The quantitative easing programme launched by the Bank of England last year was aimed at stabilising the economy and, while the country seems to be over the worst of it, the sheer size of the problems means the Bank of England have deemed it neccessary to pump an extra £50bn into the economy.
The original £175bn was has still not been phased into the economy fully and estimates suggest that £25bn is still left out of it. However, a statement read “the recession appears to be much deeper than previously thought”.
On top of this the interest rate setters also kept rates at their all time low of 0.5% for the fifth month in a row.
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