Interest Rate Falls to All-Time Low, While Bank Plans to Print Billions of New Pounds to Help Boost the Economy ; Conservatives Call Quantitative Easing Strategy a 'Leap in the Dark'
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Summary
A RADICAL plan to "print money" was launched by the Bank of England yesterday, as it opened a new front in its battle to bring Britain out of recession.
It slashed rates to a record low of 0.5% and unveiled plans to pump up to pounds 150bn into the economy in its boldest bid yet to tackle the financial downturn.See the full content of this document
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Interest Rate Falls to All-Time Low, While Bank Plans to Print Billions of New Pounds to Help Boost the Economy ; Conservatives Call Quantitative Easing Strategy a 'Leap in the Dark'
Official borrowing costs have now fallen for six months in a row, but the Bank's Monetary Policy Committee (MPC) believes rate cuts alone will not be enough.
Policymakers have moved into uncharted territory with the launch of "quantitative easing" (QE) - effectively printing money - to boost the money supply as banks are still reluctant to lend.Meanwhile, most of the four mi...See the full content of this document
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