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Bank Set To Print Cash To Ease Recession

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Sky News
Thursday, March 5, 2009

The Bank of England is expected to announce it will “print money” – and could cut the base rate of interest to a record low.

The Sky News Money Panel has said the policy of “printing money” should be carried out now before the slump gets even worse.

The Bank of England Monetary Policy Committee is expected to announce it is giving the go-ahead to quantitative easing to boost the amount of money in circulation.

It is also expected to cut the interest rate by 0.5% to a record low of 0.5%, experts say.

But it is the likely introduction of other stimulus measures that will cause headlines.

Chancellor Alistair Darling is expected to approve the printing of around £150bn.

  • A d v e r t i s e m e n t

The Bank will create the money to buy Government and corporate bonds through its Asset Purchase Facility (APF).

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This article was posted: Thursday, March 5, 2009 at 4:56 am

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