The Bank of England looks set to cut interest rates to close to zero today and announce it will start raising the money supply to drag Britain out of recession as it runs out of scope to lower rates any further.
The Bank of England is set to begin "printing money" in a bid to boost the economy after its rate-setting committee unanimously agreed that its Governor must write to the Chancellor.
The Bank of England will start pumping money into British businesses next week as the number of companies that have failed jumped by more than 50 per cent last year.
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