Thursday, March 12, 2009

Looks like the £75bn will not last very long.

Bank steps up pace of quantitative easing

The Bank of England stepped up its quantitative easing programme on Thursday, saying it would buy 5 billion pounds of gilts next week after investors eagerly offloaded 2 billion pounds worth on Wednesday, investors had wanted to sell more than 10 billion pounds of gilts to the Bank of England, five times what it was bidding to buy.

Posted by enuii @ 09:13 PM (871 views)
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5 thoughts on “Looks like the £75bn will not last very long.

  • Once they have started, they won’t be able to stop……

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  • tyrellcorporation says:

    Its all just too easy. As soon as they realise Sterling hasn’t been vaporised the taps will be jimmied open and left on for months.

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  • I can’t believe this, that they are at it already “Bank steps up pace of quantitative easing” F ME I knew that they would be like a kid with a new toy, but already!
    Can’t these bloody idiots be trusted to do anything with caution and consideration. Someone needs to take the press key away already.

    This has got Gordon Browns grubby finger prints all over it.

    WELCOME TO THE NEXT BUBBLE GORDON. If I said what I really thought I would get arrested.

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  • Old_traveller says:

    Now… where was the thread where QE effectiveness or lack thereof was discussed in detail?

    1- Will the banks just hoard this and clean their balance sheets or will they offer it in loans?
    2- Will the public ask for even more loans so to become even more indebted or will we learn and become more prudent?
    3- Are the QE amounts planned going to make a dent at current refinance requirements / debt levels? Is inflation going to kick in at all? if yes when?
    4- Is QE going to depress interest rates down? If interest rates go up, then what will happen to house prices?

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  • physical gold. Acts as a currency hedge – looking more and more sensible. Anyone in Zimbabwe that took this strategy will be laughing, surely? And that is exactly where the UK is heading.

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