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Loan Protection: Further QE unlikely

The Bank of England is unlikely to add to its quantitative easing (QE) programme in the near future, an economic forecasting group has claimed.

The Monetary Policy Committee voted against pumping more money into the economy via QE at its latest meeting, while it also kept interest rates at 0.5 per cent.

Economists widely believe the strong manufacturing data and growth figures encouraged members of the MPC to vote against adding to QE.

Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, claimed that, even with looming spending cuts, further QE is unlikely.

He said: "We are likely to see a softer patch around the turn of the year, but we believe there is sufficient momentum and that another cash injection is unlikely to be required."

It follows Chancellor George Osborne's claim that another round of QE could be required if the economic recovery falters.

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance. ADNFCR-2776-ID-800223619-ADNFCR

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