Business Advice for all UK firms from starting a business to flotation
Bank of England warn that ‘UK economy will shrink by 4%’
The Bank of England has predicted that the UK economy will contract by 4% from the middle of 2008 until mid-2009.
The Bank's governor, Mervyn King, has stated that the UK is facing a deep recession in 2009 and that rate cuts alone may not be enough to stimulate the economy.
Mr King stated that the length and depth of the recession in the UK is dependent on what happens in the world economy, but that the Bank is looking at numerous measures to help alleviate the financial crisis.
"The Monetary Policy Committee can and will take action to return inflation to the target and so ensure that economic growth will again match its potential," said Mr King.
The governor said that that as well as interest rate cuts, the Bank was ready to use new £50bn facility to buy up distressed commercial and corporate assets and that in the future the Bank would consider buying government bonds directly in order to help increase the amount of money in the economy.
Post Date: February 11th, 2009
The Bank's governor, Mervyn King, has stated that the UK is facing a deep recession in 2009 and that rate cuts alone may not be enough to stimulate the economy.
Mr King stated that the length and depth of the recession in the UK is dependent on what happens in the world economy, but that the Bank is looking at numerous measures to help alleviate the financial crisis.
"The Monetary Policy Committee can and will take action to return inflation to the target and so ensure that economic growth will again match its potential," said Mr King.
The governor said that that as well as interest rate cuts, the Bank was ready to use new £50bn facility to buy up distressed commercial and corporate assets and that in the future the Bank would consider buying government bonds directly in order to help increase the amount of money in the economy.
Post Date: February 11th, 2009
.
.
Accounting Advice | Banking & Finance | Business Continuity | Entrepreneurs | HR/Payroll Advice Insurance Advice | International Trade
Internet Advice I.T. Advice | Legal Advice | Marketing Advice | Office Management | Pensions & Benefits Property/Relocation | Recruitment Advice
Starting a Business | Telecommunications | Training/Education Travel Advice | Utilities Advice | Vehicles
copyright © 1998-2018 Newbusiness.
Homepage | Terms & Conditions | Copyright & Trademarks | Privacy Policy | Sitemail & Forum Policy | Sitemap