09 July 2009

FTSE 100 Up

Today the Bank of England will announce its latest plan to boost the UK economy. It is widely expected that they are to increase the existing QE plan, possibly by another £25 billion.

The news has actually caused an increase in the FTSE 100, after having sat in the financial doldrums with two-month lows.

On the currency market, traders are still reporting an overall risk aversion mood among investors.

Overall there is still a down on recent highs over the economic recovery in the UK, and official data has shown that the economy shrank by 2.4 per cent in the first quarter, down on previous data.

This is the worst quarter performance since the late 1950s.

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