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Video - Bank Of England Governor Mervyn King On QE In The UK - Oct. 7, 2011
World Facing Worst Financial Crisis In History According To King
Bernanke's money-printing UK counterparty, Mervyn King, discusses his announcement of $125 billion in fresh QE for Great Britain, the second attempt since 2009:
- The Bank has already issued £200billion in QE: it started in March 2009, when it had already cut rates to the record low of 0.5% - where they remain – but when the UK economy was still struggling to emerge from recession. It then injected the cash in tranches over the following 11 months, after which it closed off the scheme.
Full write-up inside.
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