QE programme can't work alone, says chamber
The move to increase the UK's quantitative easing (QE) programme to £275bn "is not enough" to aid the UK's economic recovery alone, said Derbyshire and Nottinghamshire Chamber of Commerce.
Instead, the chamber said the government and Bank of England need to look at other ways to boost growth.
Scott Knowles, deputy chief executive of the chamber, said: "With regard to QE, in the face of the risks to the UK’s recovery, it is important to make every effort to underpin business confidence and avoid a setback."
Knowles added that the Bank of England's decision to hold interest rates at 0.5 per cent was "welcome".
He said: "What businesses need at the moment is certainty and stability and one way of giving them that is by keeping interest rates low for a prolonged period, until the recovery has picked up enough momentum to sustain itself longer term, so that firms can plan ahead and invest with confidence."
