• From The BBC:

    The Bank of England has held interest rates at the record low of 0.5% for the sixth consecutive month.It has also said it would continue to pump up to £175bn into the economy – so-called quantitative easing – but that it would not extend the programme. Recent data has suggested that the UK has begun to climb out of recession But the Bank has warned recovery would be “slow and protracted” and that it would take months for the full impact of its policies to be felt. ‘Rhetoric and reality’Most commentators said the decision to leave rates, and the approach to quantitative easing, unchanged was sensible. “If you look at survey data, you see the signs of green shoots, but if you look at hard numbers on the real economy, green shoots are much more difficult to see,” said Graeme Leach, Chief Economist at the Institute of Directors business group. “There is a clear divergence at present between the rhetoric and reality of recovery. This situation will change, recovery will come, but just…

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    Posted by Jon @ 12:36 pm

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