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yabas: Britain's economy grew weaker than expected in the second quarter, official figures showed a downgrade that could pile the pressure on the Bank of England to back calls for another stimulus into the economy.


Kayabas were in agreement with sentiments that the recession of 2008 and 2009 proved deeper than previously estimated and the Bank of England's rate-setters will have much to consider as they start their monthly two-day policy meeting.

The disappointing figures come as the Bank of England's Monetary Policy Committee began its monthly two-day meeting amid growing expectations that it will approve a new round of quantitative easing to pump more billions into the economy. Minutes to the last meeting showed that the rate-setters discussed the possibility of further measures, including another cut in interest rates.


The Bank of England launched its program of quantitative easing in March 2009 after lowering its main interest rate to 0.5 percent, a level it has indicated is as low as it could go and a recent Bank of England report estimated that quantitative easing raised the level of real GDP by 1.5 percent to 2 percent but also boosted the inflation rate by as much as 1.5 percent points.


Kayabas believed that the estimates are uncertain, particularly as none of the methods used to produce them fully capture all the likely channels set out but they do suggest that the effects were economically significant.

Kayabas were in agreement with sentiments that the recession of 2008 and 2009 proved deeper than previously estimated and the Bank of England's rate-setters will have much to consider as they start their monthly two-day policy meeting.

The disappointing figures come as the Bank of England's Monetary Policy Committee began its monthly
two-day meeting amid growing expectations that it will approve a new round of quantitative easing to pump more billions into the economy. Minutes to the last meeting showed that the rate-setters discussed the possibility of further measures, including another cut in interest rates.

The Bank of England launched its program of quantitative easing in March 2009 after lowering its main interest rate to 0.5 percent, a level it has indicated is as low as it could go and a recent Bank of England report estimated that quantitative easing raised the level of real GDP by 1.5 percent to 2 percent but also boosted the inflation rate by as much as 1.5 percent points.