The UK economy is still too sick to throw away its QE prescription

Telegraph
"Officially the Bank of England's quantitative easing programme still has at least another week and a bit to run, although to judge from the behaviour of the gilt markets and the comments of economists, you'd be forgiven for thinking the bold move is all but over. .....As Charlie Bean, deputy governor of the Bank, has said repeatedly on his tour of the UK to explain the unusual monetary medicine, it may take as many as nine months to show its full effects. But so far the results have hardly been encouraging. The fact is that the vast majority of this money is being funnelled into banks' reserves – the cash they keep with the Bank of England – and is not finding its way out again."