More trouble in store for sterling
Official preparations to flood the economy with cash may prompt sterling to retest 23-year lows against the dollar and analysts say all graphs point down for the pound if it breaks lower.
The central bank voted unanimously in February to ask finance minister Alistair Darling for permission to begin quantitative easing, which it would do either by buying government bonds or corporate assets.
Darling was quoted on Tuesday as saying the BoE could start buying assets this week with newly created money.
Do you believe in monetary 'creationism'?
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