NIESR: Data Lend Support To Further UK Monetary Loosening

–UK Sep-Nov GDP Forecast Revised To +0.3% Vs 0.4% Aug-Oct
–UK August-October forecast revised down to +0.4% vs +0.5%
–NIESR: UK Economic Growth Still Subdued

LONDON (MNI) – UK output rose by 0.3% in the three months to
November, the National Institute of Economic and Social Research said
today, after revised growth of 0.4% (prev. 0.5%) in the three months to
October.

The new estimate followed much weaker-than-expected output data
published by National Statistics this morning.

NIESR noted that “economic growth in the UK remains subdued” and
said that the “data lend support to the further loosening of UK monetary
policy”.

A Market News International poll shows economists are of the view
that the QE programme will be maintained at stg275bn following the Bank
of England’s Monetary Policy Committee meeting Thursday. Most believe
however that the MPC will extend QE when the current stg75bn programme
expires in February.

–Sanjukta Moorthy, Need to Know News London, Tel: +44 207 862 2785

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