Mann International?? International Economics
Posted in International Economic on April 18th, 2009 by mbotee – Be the first to comment
“Mann International”: Any lingering hopes that the United Kingdom would be in a position to withdraw from its program of quantitative easing were dashed after data released by the Office for National Statistics (ONS) showed that Europe’s second largest economy remained mired in recession for the sixth straight quarter.
Broad consensus among economists had expected the UK’s beleaguered economy to emerge from its recession with modest growth of 0.2% but the ONS figures showed that GDP had actually contracted by -0.4%. The foreign exchange markets immediately rounded on sterling which plunged to as low as $1.6384 against the US dollar.
Analysts at “Mann International” said that the news came as no surprise to the Asian-based investment boutique which has remained skeptical of speculation that the UK could feasibly withdraw its bond purchase scheme at the next meeting of the Monetary Policy Committee in November.
