BoE thinks “long and hard” about expanding QE

The Bank of England is in the final weeks of the 50 billion-pound ($80 billion) round of quantitative easing it put in place in July. The MPC will announce its next policy decision on Nov. 8, and King said it will think “long and hard” about expanding the program from the current target of 375 billion pounds.

For now, the recovery is proceeding at a “slow and uncertain” pace, King said. Data tomorrow may show the economy grew 0.6 percent in the third quarter, according to the median estimateof 33 economists in a Bloomberg News survey. While that would end the U.K.’s first double-dip recession since the 1970s, economists say underlying growth is weaker.

King noted “encouraging” signs, including falling unemployment and a cooling of inflation to 2.2 percent, the closest it’s been to the bank’s 2 percent target in almost three years. 

http://www.bloomberg.com/news/2012-10-23/king-says-boe-stands-ready-to-add-stimulus-should-recovery-fade.html