The Bank of England is going to print another £25 billion in its quantitative easing programme - and it should be the final amount of extra cash pumped into the economy; the total has reached £200 billion since QE began in March.
Have you felt it? Have you had your share? If you own a business, have you found it easier to get credit?
Like the innocent child asked when we 'lost' all that money in the days of the credit crunch: where has it all gone?
Quantitative easing and low interest rates should make it easier for businesses to get credit. The fact that as taxpayers we own most of the banks now should also make it easier to get credit.
It hasn't. The banks are stockpiling cash (apart from their chunky bonuses once again), and would claim that they are doing what they were told to do: making a banking crisis less likely in the future and only lending 'responsibly'.
Here's you cake; have a hefty bite from it.
Just as businesses and individuals will abandon Royal Mail because of the foolish strikes that have been perpetrated in recent weeks, it would be nice if we could find an alternative to these banks.
Suggestions, anyone?
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