Brace Yourselves

From yesterday’s Guardian:

Bank of England braced for third wave of financial crisis:

The Bank of England is concerned that the UK’s banking system is heading for a third wave of crisis that could snuff out fragile signs of recovery in the economy.

On Thursday the Bank surprised the City by announcing that it would pump an extra £50bn of new money into the economy despite recent stockmarket rallies.

Now the Guardian has learned that this increase in quantitative easing was driven by fears in Threadneedle Street that the credit crunch is still sucking the life out of the British economy and the banking sector remains in deep trouble

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Published in: on May 9, 2009 at 12:45 pm  Leave a Comment  
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