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Loan Protection: BoE 'likely' to pump more money into economy

The Bank of England (BoE) is likely to pump more money into the economy via its quantitative easing (QE) programme, according to two economic forecasters.

Ernst & Young Item Club claimed it was 'hardly surprising' that the BoE would consider printing more money following the upcoming cuts to public spending.

The Centre for Economics and Business Research echoed those views, saying that it expected the Bank to pump a further £100 billion into the economy as part of its QE scheme.

Peter Spencer, chief economic adviser to the ITEM Club, ruled out the prospect of a double-dip recession but did claim the outlook for consumers is still bleak as unemployment soars and wages remain static.

He said: "The economy is likely to slow over the winter following a surprisingly positive first half of the year, but I think this will be a soft-patch, not a double-dip."

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt. ADNFCR-2776-ID-800122418-ADNFCR



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