ray4karma

BBC News - Bank of England pumps £50bn more into economy

ray4karma

July 5th, 12:43

The Bank of England has announced it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) programme to try and boost demand.

QE is the Bank's scheme which aims to boost the economy by buying bonds. The stimulus currently stands at £325bn.

The Bank also said it would leave UK interest rates unchanged at 0.5%.
BBC News - Bank of England pumps £50bn more into economy

Of  course, the overall picture of the world economy is not really positive, with growth slowdowns in Asia,
issues with the European financial system, Bob Diamond's testimony cannot really have helped yesterday.
It is very interesting how at these hearings, the person being questioned, squirms, obfuscates, tries to deflect
answers, push agenda, but generally does as much as possible to avoid admitting that at the core, many systems
move towards corruption.

via ray4karma.livejournal.com

We have this huge complex banking system, and if the people at the top say they don't know, what does this really reveal about the nature of these enterprises. Very likely, that with all the financial rewards, it was difficult to really worry about the details, the integrity of the structure of their business, and the trust of people in the banking sector. Too bad for the city.