Commenting on the decision of the MPC to increase the volume of quantitative easing, Adrian Coles, Director General of the Building Societies Association said:
"With the economic recovery weakening, the expansion of quantitative easing is not unexpected. The additional asset purchases of £75 billion announced today by the MPC will inject money into the economy, which will hopefully feed through to bolster demand. If successful this should then support confidence, potentially leading to an increase in savings. This in turn creates a better environment in which mutuals can lend."
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