UK government may start "printing" money today..
UK government may start "printing" money today..
Out of context: Reply #21
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- kezza_20
"Interest rates have now been reduced six times since October, and the latest half a percentage point cut from January's 1% had been expected.
The Bank said it would expand the amount of money in the system by £75bn in an attempt to boost bank lending.
This policy, so far untried in the UK, is called quantitative easing.
Buying assets
Quantitative easing is the process of increasing the amount of money in circulation in an attempt to revive the economy.
While the Bank will initially add £75bn, Chancellor Alistair Darling has given it permission to extend this to up to £150bn. "
Anyone else think no one has a fucking clue what they're doing.