The Bank of England has today confirmed that it will begin yet another round of Quantitive Easing in an effort to provide the British Economy with a much needed boost. The monetary committee has announced that alongside the near four hundred billion it has injected into the economy, it is set to begin a further unconfirmed stimulus amount in what can only be referred to as a desperate attempt to drag Britain out of a double dip recession.
The announcement of a further cash injection has come as a surprise to the already struggling British savers and pensioners suffering immensely at the hands of QE that has rapidly minimised savings returns throughout the nation.
The British economy is in a double dip recession for the first time slot machines in over thirty years and the decline in sales and slump in business growth is more than a solid argument for further QE however the already slashed interest rates have severely affected savers and a further injection will ensure pension and savings rates will continue to remain at an all-time low.
The monetary committee will no doubt argue, and rightfully so, that QE is a necessity to prevent a Greek style economic disaster however for those saving there has yet to appear a light of the never ending darkness. Only time will tell whether the new ‘batch’ of QE will have the desired effect or Britain’s economy will remain at its worst.
For home owners, savers and pensioners it is wise to seek financial assistance from a finance broker on home and commercial mortgages, loans and a range of financial issues; as it is now more than ever, crucial to stay on top of finances to avoid facing unmitigated disaster.