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BoE ready to pump liquidity if first quarter confirms UK back in recession

Thursday, April 4th 2013 - 22:11 UTC
Full article 19 comments

The Bank of England has decided not to expand its stimulus program of quantitative easing and has also kept interest rates unchanged at 0.5%. The decision had been widely expected, despite concerns over the strength of the UK economy. The rate has been at that level since March 2009. Read full article

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  • John Troll the 3rd

    “back in recession for the third time in five years”

    Well, as they say, even broken clocks are right TWICE a day.

    HAHAHAHAHAHAHAHAHAHAHAHA.

    Apr 05th, 2013 - 01:44 am - Link - Report abuse 0
  • Fido Dido

    yes, keep pumping, faster...

    does it work?
    No, but who cares, the ugly brits here prefer pay attention to the falklands / malvinas (islands they will never visit) and ignore inflation / stealth inflation Yes, it's there, but keep the sunglasses on because Camoron, Arseborn, Perf king says: Everything is “superb”.

    Apr 05th, 2013 - 03:33 am - Link - Report abuse 0
  • Anglotino

    Mmmhhh seems Argentineans believe UK government statistics!

    Trustworthy is the word to use.

    No one days the same about Argentinean government statistics.

    Blatant untruths is the best fit.

    Apr 05th, 2013 - 05:43 am - Link - Report abuse 0
  • Stevie

    Anglolatino
    When your own rating agencies start downgrading yourselves, one knows it's bad, Really bad...

    Apr 05th, 2013 - 08:50 am - Link - Report abuse 0
  • Pirate Love

    @1, remind me, what is argentinas real inflation estimate (not indecs)?
    JAJAJAJJAJAJAJAJA....JA

    @2 Ugly? have you not seen your president and her corpse husband?
    no stealth inflation here thats an argentine trait :))) ask IMF!!!

    @4 its called transparency....can you tell us where argentina stands on the global transparency rating....JAJAJAJAJ

    to sum it up if we ever reach the depths that argentina is at then we will know its bad, Really Bad....

    SELF-DETERMINATION.......Its all good :)

    Apr 05th, 2013 - 10:00 am - Link - Report abuse 0
  • Stevie

    5
    Trillions in debt and only when the world turns you their back, you fix the numbers. A little too late, I'm sorry to say. The only thing that is transparent here are your nerves :)

    Apr 05th, 2013 - 10:03 am - Link - Report abuse 0
  • Anglotino

    Sorry Stevie

    No downgrades here, AAA all the way!

    Low government debt.
    High growth.
    Statistics people believe.

    Most European countries have one.
    Even China only has one.
    Argentina has none.

    Apr 05th, 2013 - 02:07 pm - Link - Report abuse 0
  • Stevie

    7
    Enjoy your debt ;)

    Apr 05th, 2013 - 02:34 pm - Link - Report abuse 0
  • Conqueror

    @7 We will. But let's just note that WE don't have a political agency like INDEC that “fixes” the figures on a daily basis. WE don't have a political agency like INDEC that is shown to lie on a regular basis. WE don't have a political agency like INDEC that the IMF indicates produces “unsupportable” figures. WE don't have billions in debts that we are trying to wriggle out of. US$100 billion, isn't it? WE haven't left thousands of “investors” defrauded. I just wonder if argieland, or any argie, has ever tried, or even heard of, something called integrity? That's the difference, you see. However long it takes, the UK will PAY its debts. By contrast, argieland incurs debts it has NO intention of repaying. We don't count “lenders” like China or Iran. They have given “political” loans. When they are ready, argieland WILL pay. OR ELSE!!

    Apr 05th, 2013 - 03:03 pm - Link - Report abuse 0
  • Stevie

    conq
    You can't pay, most of your debt is to your own pensionists. More and more of them, with less and less hands to feed them.
    You haven't been avoiding Billions. That's nothing for you lot. You'll be avoiding Trillions :)

    Apr 05th, 2013 - 03:38 pm - Link - Report abuse 0
  • Condorito

    @2 Fido, the QE is working better than doing nothing. Europe has got itself into a mess through decades of living beyond their means. Given the limited tools a central bank has, pumping liquidity was exactly the right thing to do under the circumstances. It buys the time to make the painful policy adjustments necessary to get back to fiscal balance - that is going to be the difficult part.

    Stevie,
    “That's nothing for you lot.” - and who is your lot?

    Apr 05th, 2013 - 06:19 pm - Link - Report abuse 0
  • reality check

    Steve
    Damn I am really suffering here, better turn down the central heating, send the satellite TV back, get rid of one of the cars, cancel my golf club subscription and holiday, remortgage the house, stock up on food and antibiotics, shoot the pets, send the grandchildren to live with their grandparents and rent out their rooms.

    Then again, I could simply do what I always do, carry on and adjust my life style accordingly.

    Apr 05th, 2013 - 07:04 pm - Link - Report abuse 0
  • Stevie

    We have the sun, no need for central heating. We still talk to eachother, no need for satellite TV, We can only drive one car at the time, hence no need for 2 cars. Golf is an excuse for not playing/watching/talking football, certainly no need for that. Do what you wish with your house, that one we don't need either. Fact is, we don't really aspire to live like you lot do. You have no respect for mother earth and your consumption is just yet another thing we most certainly don't need. You really expect us wanting to end up like you? Pointing fingers at everybody having build up a debt that isn't payable? Sure, enjoy today.
    Then go and look those grandkids of yours and tell them just why you left them such a mess...

    Apr 05th, 2013 - 07:13 pm - Link - Report abuse 0
  • Condorito

    Stevie,
    “We have the sun”.
    What are you talking about it is autumn and BA is under two meters of water.

    “Fact is, we don't really aspire to live like you lot do. ”

    Again, what are you talking about. I have seen that on other threads you call yourself a “latino”. I which case please don't use the word “we” unless you are going to specify the okupus toma you are referring to.

    “no need for satellite TV” - really, so why is there such high take up of satelite TV in LatAm? and why is it one of the biggest growth markets for Sat TV?

    “your consumption is just yet another thing we most certainly don't need. ” - so why have LatAm imports of cheap Chinese consumer products increased by an order of magnitude in the last 10 years.

    Your grossly inaccurate comments tell me that you do not live in South America.

    Apr 05th, 2013 - 08:03 pm - Link - Report abuse 0
  • Stevie

    Condortito
    You feel you have the need for a Sat TV, go get one. Get two. According to reality-check, these things don't exist in South America.

    The reason it has increased is because people now have more money to buy them, something that isn't happening either in reality-checks reality.

    Furthermore, if your aim is to live like him, Condorito, you would have to build up Trillions of dollars in debt, it's not like their seccessful exportation or innovative production is paying for the party.

    So yes, there is a vast majority in Latin America that most surely doesn't want to end up like reality-check. With a lot of unpaid stuff, because in the end, the debt will be paid from his pockets, or his children.

    Your very familiar comments tell me that you represent that oligarchy that indeed has no problem in selling his country for baratijas.

    Overconsumption is a big problem, Latin America included, but again, according to reality-check and his flashy Sat TV and his golfballs, these things don't exist in South America.

    Apr 05th, 2013 - 09:27 pm - Link - Report abuse 0
  • Condorito

    Stevie,
    I don't have Sat TV. And that is not the point.
    You use the word “we” repeatedly in post 13 and I don't know who you are referring to. If you are referring to South America, then you are very wrong in what you say.

    Most people here do aspire to have the wealth, quality education, quality health care and low crime that they have in Europe. In fact that is why so many (like you I suspect) choose to live there.

    “according to reality-check and his flashy Sat TV and his golfballs, these things don't exist in South America.”

    Where does RC acertain that?

    “Your very familiar comments tell me that you represent that oligarchy”

    You are obviously more familiar with the comments of “the oligarchy” than I am. I have no idea what they sound like. I am middle class (in the Chilean sense), living in a middle class neighborhood full of satellite dishes, Korean cars and people aspiring to get better jobs so they can get health plans and better holidays.

    It is funny that you mock their debt and consumerism. The government debt that has caused global problems was built up buy European socialist policies of spending massively on health, education and public services, which is admirable in concept but foolish economically. These are probably policies that you would advocate.

    Apr 05th, 2013 - 10:34 pm - Link - Report abuse 0
  • Stevie

    Condorito

    “Most people here do aspire to have the wealth, quality education, quality health care and low crime that they have in Europe.”

    “It is funny that you mock their debt and consumerism. The government debt that has caused global problems was built up buy European socialist policies of spending massively on health, education and public services, which is admirable in concept but foolish economically.”

    Make up your mind, then we'll talk.

    Apr 05th, 2013 - 11:55 pm - Link - Report abuse 0
  • Conqueror

    @10 Sorry to disappoint you, but the latest reports are that the UK is NOT going into another recession. But then, at ordinary person level, we didn't really notice the first two. Oh, and my pension has gone UP. Hundreds more PER MONTH than I was getting a couple of years ago. And more INCREASES to come in May. Lucky me, eh? And, by the way, none of the Big Three rating agencies are “ours”. They are American. I mean, proper American, not “latino” American. As a thought, didn't the US Navy say that it would be impossible for Britain to retake the Falkland Islands? Did it though, didn't we? Americans can get it wrong.
    @13 As a matter of interest, does the sun dry out the flooded homes etc? But you don't need a house. Tent, is it? Or are you still living off mummy and daddy? Isn't it true that argieland will be spending billions of dollars importing energy? If you don't “consume” why? Incidentally, it isn't Britain that's in court for what is, essentially, fraud. Argieland is. What happens if the 97% of bondholders follow the argie example and tear up their “restructuring” agreements? And then demand full payment!
    @17 The difference is that we have “intelligence”. It's true that, in the UK, we are having to suffer a little for 13 years of profligacy by Labour governments. Thing is that we don't deny that it happened. Argies, in respect of their own “economy”, do. Where is it that wage increase negotiations start at 25%. I'll give you a clue. It isn't the UK. Where is it that the “government” has to instruct supermarkets to freeze prices for 60 days? Not in the UK. Where is it that the “government”, by means of bonds, set out to commit deliberate fraud? Not the UK. Where is it that the “government” dare not let its “assets” too far out of its territory in case they get seized? Not the UK. Where is it that the “government” can't actually go to the money markets and borrow money? Not the UK. Where is it that the “navy” sinks at its moorings? Not the UK.

    Apr 06th, 2013 - 03:55 pm - Link - Report abuse 0
  • Skåre-Vuggevise

    Hmmmm ... sloppy reporting. The second recession didn't actually happen according to the final figures, the first was minimal according to the final figures and there is next to zero chance of the mythical third (i.e. second) one happening.

    Apr 08th, 2013 - 02:13 pm - Link - Report abuse 0

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