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The UK’s central bank has cut its medium-term growth forecasts leading some analysts to believe that a further round of quantitative easing is on the cards.
The Bank of England has revised targets for growth downwards to 2 percent in two years’ time, which is a sharp reduction from a forecast of 2.67 percent just three months ago.Peter Westaway, Chief European Economist at Vanguard Asset Management told CNBC the Bank of England was in a difficult position and more stimulus would be announced soon.“I think we’re going to wait until the (current round of quantitative easing ) gets done and then at the next inflation reports press conference, the next policy decision for November, that will be the time when we might hear a decision about more QE,” he told CNBC Wednesday.
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