Just read this:
"Mr Osborne refused to budge on austerity, though, blaming the eurozone.
"These are disappointing figures but they are not entirely unexpected," he said. "We have got the right plan, we have got to stick to it but we have got to accept that Britain's problems have been made worse by the situation in the eurozone."
While the Treasury intends to stick to its guns, the Bank indicated it is planning more quantitative easing (QE) next month. Minutes from the Bank's rate setting meeting said: "For some members, the risks of undershooting the [inflation] target meant that a further expansion of asset purchases was likely to be required."
The Bank has already injected £275bn into the economy through QE. Economists expect another £50bn to £75bn in a fortnight's time.
According to the ONS, manufacturers bore the brunt of the quarterly slump, declining 0.9pc – the steepest fall since the start of the recession in 2008. "
Source: UK heading for first double-dip recession since 1975 - Telegraph
WTF - they think there is risk to undershoot inflation target and therefore they'll print more money?!?! Who are those "members" who think there is real risk of getting inflation below target of 2%?!?!
"Mr Osborne refused to budge on austerity, though, blaming the eurozone.
"These are disappointing figures but they are not entirely unexpected," he said. "We have got the right plan, we have got to stick to it but we have got to accept that Britain's problems have been made worse by the situation in the eurozone."
While the Treasury intends to stick to its guns, the Bank indicated it is planning more quantitative easing (QE) next month. Minutes from the Bank's rate setting meeting said: "For some members, the risks of undershooting the [inflation] target meant that a further expansion of asset purchases was likely to be required."
The Bank has already injected £275bn into the economy through QE. Economists expect another £50bn to £75bn in a fortnight's time.
According to the ONS, manufacturers bore the brunt of the quarterly slump, declining 0.9pc – the steepest fall since the start of the recession in 2008. "
Source: UK heading for first double-dip recession since 1975 - Telegraph
WTF - they think there is risk to undershoot inflation target and therefore they'll print more money?!?! Who are those "members" who think there is real risk of getting inflation below target of 2%?!?!
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