Press, News & Features

Latest News

Bank set to add £50bn economy boost

The Bank of England is expected to unleash another multi-billion round of emergency support for the UK economy despite signs that the UK’s financial health may be starting to improve.

The Bank’s Monetary Policy Committee (MPC) is forecast to increase its quantitative easing (QE) programme by £50 billion to £325 billion in a bid to stave off a recession, while it will also hold interest rates at record lows of 0.5%.

Many economists had previously expected the MPC to inject an even greater sum into the economy but surprisingly upbeat industry surveys for January have forced some to revise down their estimates.

The closely watched Markit/CIPS surveys showed that the manufacturing sector returned to growth in January, while the powerhouse services sector saw a record leap in optimism.

Malcolm Barr, an analyst at JP Morgan, had previously forecast an injection of £75 billion but said the “much firmer than expected” data meant he now pencilled in a £50 billion boost instead.

Despite the upbeat data, most analysts also insisted it was still too early to call a recovery after respected thinktank NIESR recently warned that the UK economy would shrink by 0.1% in 2012 amid weak investment and uncertain conditions.

Meanwhile, recent extreme weather has clouded the picture further, with some economists warning the heavy snowfall and icy conditions could hit economic output, as they did at the turn of the year in 2011.

Howard Archer, chief UK and European economist at IHS Global Insight, said: “Obviously the longer that the snow and freezing conditions last, the more will be the disruption to economic activity, and the bigger the risk that the first quarter will see further contraction in GDP.”

The economy contracted by 0.2% in the final quarter of 2011, sparking fears that the UK would fall back into another recession – defined as two successive quarters of falls – albeit a much milder one than previously.

The Government and Bank have both placed much of the blame for the UK’s economic difficulties on the troubles in the eurozone, which still have no clear resolution.

Thank you for choosing Loomis to provide your SafePoint Solo solution.

We aim to make the set up process as easy as possible right from the start; here's a quick outline of what to expect once you submit your request: 

  • You will receive a New Account Request form (here we capture more about your company, address details and other necessary information)
  • Upon receipt of a completed form; we will create your New Account and issue our standard terms and conditions
  • Included within will be confirmation of the collection day for your service
  • Once the contract is fully executed, you will be asked to complete a short form regarding the placement of your new SafePoint device
  • Once returned, an ETA for the installation will be given, with your services commencing shortly after this is complete
  • You will also receive a Welcome Pack and site survey from your local servicing depot.
You may experience issues with this form if you have not accepted cookies.