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BoE needs to increase QE by 50 bln stg-Blanchflower
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Bank of England policymakers must agree to top up the 175 billion asset purchase programme when it meets on Thursday to stop the economy "dropping off a cliff," former Monetary Policy Committee member David Blanchflower said.
Writing in the Daily Telegraph newspaper, the ex-MPC member -- who has strongly criticised BoE Governor Mervyn King for not backing his initial calls to cut interest rates at the start of the financial crisis -- said quantitative easing should be increase by a further 50 billion pounds.
"It's time for them to shape up and do their jobs, and take out more insurance to prevent the economy dropping off a cliff," Blanchflower said, singling out MPC... Full Story |
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Submitted Nov 4, 2009 10:16pm
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