Following the MPC’s decision to embark on another round of quantitative easing, Andrew Smith, KPMG’s Chief Economist, commented:
“Now the MPC has decided that the weak economy warrants another round of QE, it is likely to prove just the first instalment of a larger injection. With the government still intent on rapid deficit reduction, consumers constrained by shrinking real incomes and our major export markets experiencing similar headwinds, a sizeable monetary expansion may be the only instrument available to support demand for the foreseeable future.”
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Arti Mohan, Corporate Communications
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KPMG Press Office: 020 7694 8773
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff. The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.