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‘We may need to print even MORE money’, Bank of England economist warns just days after £75billion cashflow is sanctioned

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SIMON DUKE
UK Daily Mail
October 10, 2011

One of the Bank of England’s leading economists has warned it may need to print even more money to bolster the sickly economy.

In a sign of growing fears over a double-dip recession, Dr Martin Weale signalled that it will step up its money-printing scheme if growth does not pick up soon.

The warning came before the Bank has even begun distributing the extra £75billion it set aside for its quantitative easing (QE) programme just days ago.

Today two new reports on Britain’s economic prospects make grim reading for ministers – predicting that growth could go into reverse next year  as confidence levels in plunged to two-year lows.

In addition, Dr Weale’s comments came as the country braces itself for the worst labour market figures since the depths of the recession of the early 1990s.

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This article was posted: Monday, October 10, 2011 at 7:40 am





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