Bank of England looks at injecting cash

Published 05th Dec 2008

The Bank of England is working on radical plans to inject cash directly into the economy as a last resort to reverse a slide into recession, a newspaper reported on Friday. The unsourced report in The Daily Telegraph came after the Bank of England on Thursday slashed interest rates to their lowest level since 1951 and indicated that more needed to be done to prevent a credit squeeze tipping the economy into a prolonged recession.

Source: ' III '

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