Bank pumps extra pounds 50bn into economy; In brief.THE Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. warned that the banking sector could hamper recovery from the recession as it pumped an extra pounds 50bn into the flagging economy. The surprise move - taking efforts to boost the money supply to pounds 175bn - appeared to pour cold water on rising hopes that the UK will bounce back quickly from recession. The Monetary Policy Committee (MPC (1) (Mobile PC) A handheld or laptop computer. See handheld computer, laptop computer and Ultra-Mobile PC. (2) (MultiPath Channel) See multipath. ), which left interest rates at a 0.5% record low, saw some hopeful signs but flagged up lower lending levels - with banks making more profits on the loans they are making. The committee warned: "The need for banks to continue repairing their balance sheets is likely to restrict the availability of credit, and past falls in asset prices and high levels of debt may weigh on weigh on Verb to be oppressive or burdensome to: the expectations that weigh so heavily on diplomats' wives Verb 1. spending." |
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