Bank of England under pressure for more QE - reports

clock

Policymakers at the Bank of England have come under pressure to take action today to 'cushion' the UK's recession-hit economy against further eurozone turmoil, the Guardian reports.

The report said while most City analysts expect the bank to lease interest rates on hold at 0.5%, and hold back from QE the eurozone crisis was escalating and could spark a fresh round. David Kern, chief economist at the British Chambers of Commerce (BCC), said: "Demands for mow QE have started to rise due to worsening crisis in the eurozone and signed that the US and Asian economies are slowing." He told the Guardian the BCC would like to to see policymakers take a more innovative approach, of trying to unblock lending to businesses directly, instead of relying on QE to filter down t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read