Tuesday, 23 February 2010

Sterling plunges after Bank of England warns UK might have to print MORE money

Daily Mail
"The value of Sterling plunged this afternoon after Bank of England chief Mervyn King told told MPs that Britain may have to print more money to boost the country's fragile economic recovery.Mr King sent the Pound into a fresh slump against the U.S. dollar after he admitted the Bank might extend its £200billion quantitative easing programme. In a gloomy update to MPs on the Treasury Committee, he warned that expectations for the British economy remain 'to the downside'.And he again stressed the need for the Government to give a 'detailed explanation' about how it will slash the £178billion deficit in public finances."

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