Recession deeper than originally thought. Another £50 billion pounds deeper.

Recession NOT over

The bank of england has announced that the uk  recession is deeper than originally thought.

Despite reports that the recession is going to be over soon, the bank of england has injected another 50 billion pounds into the uk economy.

This has taken the bank`s total spending on quantitative easing to over the original £150 billion allowed by the chancellor. The new total is £175 billion.

On a brighter note. The bank has decided to keep interest rates at the current  low of  0.5%

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