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BANK OF ENGLAND policy-makers have announced plans to pump £ 50bn of additional stimulus into the economy in an attempt to avert a second recession
From The Telegraph. The Bank’s Monetary Policy Committee voted to increase its quantitative easing (QE) programme, which will take the total assets purchased to £ 325bn since the process was started in March 2009. Interest rates were left on old at 0,5pc, as expected.
QE has left more than a million pensioners permanently poorer it was claimed last night. Economist Ros Altman, Saga’s director general, said “The programme pushed annuity rates down, and had contributed to them falling by about a quarter over the past three years.”
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