The Times
"The exact effect of the Bank of England's multi-billion pound scheme of quantitative easing (QE) will probably never be known Charlie Bean, the Deputy Governor, admitted today.
Mr Bean said that since it was impossible to judge what would have happened if the Bank had not decided to pump £175 billion into the economy, it would be difficult to ascertain the total effect of the policy. .....There has been unease over the success of the Bank's scheme among economists as it has so far failed significantly unlock bank lending to businesses and individuals, which threatens to keep the brakes on economic recovery."
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