Cable calls for more QE
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The business secretary Vince Cable has called for another round of quantitative easing by the Bank of England to kick start the UK’s recovery.
In an interview with the Financial Times today Cable says it might be right for the Bank to consider “more radical” types of QE rather than simply buying government bonds.
QE was first introduced within the UK back in March 2009 when it first cut interest rates to 0.5%.
The QE asset purchase programme currently stands at £200bn – it was frozen in February 2010.
Cable also poured scorn on the UK’s current economic performance, telling the FT that, “clearly we haven’t got a strong recovery”.
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