There's bad news and good news in the Bank of England's decision to extend its quantitative easing programme today.
The bad news is that clearly the MPC has judged that the economic turmoil is by no means over. The good news is that it has acted decisively with a measure to inject extra liquidity.
Our last quarterly North East Business Barometer survey of members showed the first glimmers of confidence coming back into the region's businesses. Our next survey goes out later this month - hopefully measures such as this will help increase that further.