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Quantitative Easing Re-Launch: NECC Comment

 

Reacting to the announcement of the Monetary Policy Committee to re-launch quantitative easing, NECC Chief Executive, James Ramsbotham, said:

Reacting to the announcement of the Monetary Policy Committee to re-launch quantitative easing, NECC Chief Executive, James Ramsbotham, said:

"The re-introduction of quantitative easing illustrates the uncertainty the Bank of England feels the UK economy is facing. Coupled with yesterday's revision of estimates for GDP growth from 0.2% to 0.1%, it is another clear demonstration that growth remains fragile.

"Hopefully a new round of easing will help improve credit market conditions, but today's announcement should not be viewed as an answer to existing economic challenges and it must be backed by a conspicuous and unrelenting effort by the Government to support investment and growth in the private sector as well as a clear policy statement to stimulate confidence as well as demand."