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PPI: Further quantitative easing 'unlikely'

The Bank of England (BoE) is unlikely to pump more money into the economy via the quantitative easing (QE) programme, according to an economic forecasting group.

During last month's Monetary Policy Committee meeting, members voted to maintain both interest rates and QE at their current levels.

However, BoE governor Mervyn King recently hinted that the Bank could add to the QE scheme in a bid to help improve liquidity in the economy.

Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, claimed that it is "unlikely" the Bank would choose to do so in the current climate.

He said: "The Bank is right to keep its options open given the heightened uncertainty and risks to the recovery, but at this point in time we do not expect any more QE."

Mr Goodwin added that, although the UK is in somewhat of a "soft patch", all indicators continue to point to growth.

"We expect momentum to build next year," he said.

Posted by Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-800138324-ADNFCR



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