Bank of England injects further £75bn into economy - UK

[dipsydoodle]

Source: BBC News

The Bank of England has said it will inject a further £75bn into the economy through quantitative easing (QE).

The Bank has already pumped £200bn into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks.

But this is the first time it has added to its QE programme since 2009. There have been recent calls for it to step in again to aid the fragile recovery.

The Bank also held interest rates at the record low of 0.5%.

Read more: http://www.bbc.co.uk/news/business-15196078

[formercia]

1. QE= Printing worthless Money at best.

Nowadays, it's just changing a few values in a spreadsheet. All it does is make everyone's money worth less.

[legin]

2. Another problem with this

is that the money just stays in the banking industry, it doesn't directly hit the streets.

They should just give me the £75bn and let me blow it on clothes, CD's, books, food and down the pub.

It would be a damn good month.

[formercia]

3. ...and it would create jobs.

Money that is spent on goods is recycled many times through the community before it reaches the bank accounts of the 1%. It provides jobs and income for others, who also spend their income on goods and services. It is good fore everyone who depend on a Capitalistic Economy for survival.

Eventually, things must change, but for now, it will have to do.

[jwirr]

4. Sounds like they are making the same mistake we are - pumping

money into the economy from the top (trickle down) instead of from the bottom with jobs programs etc.