UK economy ranked 71st worse performing in the world by the World Economic Forum
City Desk
The Bank of England Monetary Policy Committee has again voted to keep interest rates at record low levels, for the sixth month running at 0.5 per cent.
The printing of money or quantitative easing programme £175 billion will still continue despite the difference of opinion inside the MPC that showed Mervyn King the Bank of England’s pushing for a larger injection of cash of £200 billion.
Businesses around the country are still complaining that banks are lending at unfair levels with cases of banks scrapping LIBOR linked lending and setting subjective rates of between 3-6% percent.
The UK economy was recently ranked by the World Economic Forum as the 71st worse performing economy alongside Colombia and Montenegro in its ratings for macroeconomic stability.
The British economy is one of the worst performing of the advanced economies – behind France (58th), Germany (30th) and Sweden (15th) in the World Economic Forums tables.
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With fish as witnesses, the president of Maldives and his Cabinet wore scuba gear and used hand signals Saturday at an underwater meeting to highlight the threat climate change poses to the archipelago nation.
