'We may need to print even MORE money', Bank of England economist warns just days after £75billion cashflow is sanctioned

The Daily Mail
Oct. 11, 2011

One of the Bank of England’s leading economists has warned it may need to print even more money to bolster the sickly economy.

In a sign of growing fears over a double-dip recession, Dr Martin Weale signalled that it will step up its money-printing scheme if growth does not pick up soon.

The warning came before the Bank has even begun distributing the extra £75billion it set aside for its quantitative easing (QE) programme just days ago.

[...]Dr Weale told Sky News that printing new money would not increase inflation without also providing a much-needed boost to the economy.

Tackling runaway inflation through interest rate rises was not an option the Bank was prepared to take as it would inflict too much damage on the economy, he suggested.

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