October 2010 saw the launch of the new Queen Elizabeth cruise liner. There is a distinct possibility that this will be followed in the near future by the launch of what some analysts call "QE2": a new programme of quantitative easing (QE), designed to help revive growth in the economy.
There is increasing speculation that the Bank of England's Monetary Policy Committee (MPC) will take this step to renew action to help shore up the recovery. However, it appears likely that such a step will not come today, when the results of the MPC's November 2010 meeting are announced at midday.
The US Federal Reserve Bank announced yesterday (Wednesday 3 November 2010) that it has decided to renew the US programme of quantitative easing, intending "to purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month."
The November 2010 economic commentary from XpertHR Salary Surveys looks in more detail at the prospects for further quantitative easing.
Update (Thursday 4 November 2010): To no-one's great surprise, the MPC announced at midday today that UK interest rates will once again be held at 0.5%. The programme of quantitative easing will also be maintained at £200 billion.
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