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BANK MUST REVISIT QE SOON
[ 04-08-2011 ]
Commenting on the news that the Bank of England’s Monetary Policy Committee have again kept interest rates on hold at 0.5%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“This decision was expected and it now looks very likely that we can expect interest rates to remain frozen for the remainder of this year. The Bank of England is anticipating that inflation will begin to edge up in the autumn before falling back during the winter. With inflationary pressure receding in the medium term, the question for the Bank now is whether to revisit the tool of Quantitative Easing to help fend off the downside threats to economic growth.
“Any evidence that the stagnant growth rate is continuing into the second half of 2011 must signal the Bank to consider raising the current £200 billion QE ceiling.”
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