Bank and Month Vote

problems britain: Economists are now asking how the Bank might tailor QE to meet the problems Britain faces in the aftermath of last month vote to leave the European Union – a result that threw the country into political chaos and has sparked fears of recession, according to Euro News. Most economists polled by Reuters expect the Bank will cut rates to a new record low of 0.25 percent on Thursday, followed by an extension of the QE programme which it adopted as the financial crisis raged in early 2009, probably in August. The central bank is poised to cut interest rates as soon as Thursday and will probably follow up soon afterwards by reviving the massive bond-buying programme that it credits with helping to shore up the economy after the global financial crisis. Following the lead of the central banks in Japan and the United States, the Bank created 375 billion pounds between 2009 and 2012 to buy government bonds to get money flowing through the economy. Supporters of QE say it has helped all households by boosting employment and reducing borrowing costs broadly. The plan boosted asset prices but led to criticism that the BoE had provided most help to wealthy owners of shares and property. (news.financializer.com). As reported in the news.