BoE Comments on Falling Deeper Into Recession, No Hints of Further Stimulus

“LONDON (Reuters) – Britain’s economy will barely grow this year and may have taken a bigger hit from the euro zone debt crisis than thought, the Bank of England said on Wednesday, but it gave little indication that it would rush to pour further stimulus into the economy.

The BoE resumed its asset buying last month, launching a four-month, 50-billion-pound ($78 billion) program with newly created money to keep a lid on borrowing costs and pump more cash into the economy.

Since then, figures have shown Britain’s recession has deepened, with little sign of a hoped-for bounce in activity in July or a boost from the Olympic Games the country is hosting.”

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