Thursday, Feb 04, 2010
Base rate held at 0.5% but QE ended
BBC: Bank halts quantitative easing programme
The Bank of England has decided against further quantitative easing (QE), the policy designed to stimulate growth in the UK economy. Under QE, the Bank has pumped new money into the economy by buying assets such as government bonds, as a way to boost lending by commercial banks. Last week, it revealed it had spent all of the £200bn put aside for QE. The Bank also kept interest rates on hold at a record low 0.5% for the 11th consecutive month.
Posted by jack c @ 12:08 PM (1612 views) Add Comment
17 Comments
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1. mountain goat said...
Yep tightening in 2010.
Other news today China imposed a partial ban on listed companies raising capital from equity markets to repay bank loans or replenish working capital, amid a general tightening of liquidity and official curbs on soaring bank debt in the country.
http://ftalphaville.ft.com/blog/2010/02/04/140621/china-first-the-banks-now-the-corporates/
2. bystander said...
...and the markets plummet - looks like daddy took the sweeties away and the children are throwing their toys out of the pram.
3. vindicated said...
'£200bn put aside for QE'.....???? What.... were they saving for a rainy day or something? Were they popping tenners leftover from their monthly spends into a QE slush fund??
4. vindicated said...
oops.... left over not leftover!
5. techieman said...
bystander... im not sure we have had these falls because of the end of QE.... look at Cand Cans post above, but your right - it hasnt exactly helped!!
6. techieman said...
ironic that there is a thread here touting the yellow stuff - its own down $40. Dollar is a bit on the rampant side, as expected by MG and some other "sensible ???" people!
7. techieman said...
only down $40 - sorry getting carried away with my "huge" short position...
8. str 2007 said...
Hi techieman,
Hope you're having a good day today.
Feeling quite smug myself that I posted on here a few days ago that Gold looked like it had formed a double top.
Still, I could be proved wrong.
How are you seeing the various markets now ?
Any opinions on how the various Indecise are likely to be performing ?
Just watching the S&P & FTSE myself.
9. paul said...
10. braindeed said...
....Someone tell me - how do you add a picture or link in these forms?
11. braindeed said...
http://www.getliberty.org/content_images/Cartoon%20-%20Note%20from%20Mugabe%20%28600%29.jpg
12. goweresque said...
Interesting. 3 months to the election. QE money all gone. Will the gilt market hold? If Cameron & co have any sense they will backpedal as fast as possible on 'hard choices' and pray the bond market blows up before 6th May. If it does Labour are toast.
13. paul said...
<img src="http://www.getliberty.org/content_images/Cartoon%20-%20Note%20from%20Mugabe%20%28600%29.jpg"/>
14. tyrellcorporation said...
Mmmm, I think Brown has mis-timed the election again. All the gunpowder has been shot and things are sliding again. He should have called it for the end of X-Factor just before Christmas so everyone's in a jolly good mood (much like in Downfall when the Russians are circling Berlin and the Nazis are having one final knees-up!).
15. Fred Bear said...
QE = HI
16. This comment has been removed as it was found to be in breach of our Blog Policies.
17. braindeed said...
14 tyrellcorporation said...
(much like in Downfall when the Russians are circling Berlin and the Nazis are having one final knees-up!).
The whole of life's a movie, isn't it Leon?