QE3

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On Thursday the eagerly anticipated preliminary reading for UK GDP Q1 from the ONS showed that the UK had avoided a dreaded triple-dip recession, for now. Chancellor, George Osborne has been under considerable pressure to change course away from the current path of austerity. Following consecutive readings of poor economic data, criticism from the IMF and a downgrade by Fitch, Osborne has some briefing space. The ONS expect the UK economy to grow by 0.3%, which might be the milestone remembe…

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It came to light after the European close, the tax payer backed bank Royal Bank of Scotland (RBS) is in talks with the Abu Dhabi sovereign wealth to purchase a stake. Though these are high level talks, it has been announced that they are inpreliminarystages and the deal is not imminent. The coverage of the deal has been met with mixed reviews, the average purchase price of the government share of 82% was at roughly 49.9p and the share closed at 27.75p yesterday. The treasury does need to beg…

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