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Mervyn King opens the door to quantitative easing

Mervyn King has this evening opened the door to a last resort "quantitative easing" to try and solve the riddle of the falling UK economy. This method involves printing more and more money to finance rescue packages, the purchase of bonds and other such investments in an attempt to pump money back into the economy. As interest rates move towards 0% there are fewer and fewer options open to the government and the Bank of England and many experts feel a quantitative easing is just a matter of time.

Despite a number of rescue packages and pumping hundreds of billions of pounds into the system there has been little movement on the upside in the UK economy. Indeed the banking sector has come under renewed pressure this evening amid calls for a number of major UK banks to be nationalised. Once thought of as the safest sector on the UK stock market the banking sector has been annihilated over the last 12 months and the pain does not seem to be over.

Mervyn King has been fairly quiet for some time amid suggestions that he has been working on this quantitative easing strategy ready to jump into action as and when required. Many feel that moment is not too far away.......

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