Thursday, Aug 06, 2009
More 'Brown' shoots!
Mail online: Bank of England warns recession is 'deeper than previously thought' as it extends 'printing money' scheme by £50billion
Meanwhile, Halifax said it now expected house prices to drop by 7 per cent or less this year - well down on its previous estimate of a 15 per cent decline.
However, Vicky Redwood at Capital Economics said it was 'still early days' in a recovery and she expects the Bank to take further action.
'Given the MPC's caution about these 'green shoots', as well as the rather more disappointing news on the monetary side of things, we still think that more quantitative easing will be announced,' she said.
Posted by tim miller @ 03:08 PM (266 views) Add Comment
1 Comment
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1. icarus said...
"Deeper than previously thought" by those who were too busy re-arranging deckchairs to see the iceberg.