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Analysts believe £200 billion Bank of England injection saved UK economy

The Bank of England MPC today announced no change in UK base rates are no change in the Bank of England's policy of suspending the quantitative easing program. These announcements come as no surprise to UK economists who have heralded the quantitative easing program on its anniversary. So would the UK economy have recovered without the £200 billion quantitative easing program?

Analysts are now firmly of the belief that were it not for the £200 billion quantitative easing program, which injected massive liquidity into the UK financial sector, the UK economy would still be in recession. This then prompts the question as to whether the UK economy is strong enough to move forward on its own or whether the suspension of the £200 billion quantitative easing program could see the economy slip back into recession.

It will be interesting to see how the UK economy performs over the next six months as these are likely to be pivotal months for the economy. If we see weakness in the UK economy it is highly likely that UK base rates will remain at 0.5% for some time to come and we could see the quantitative easing program reintroduced and extended.

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