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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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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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