Quantitive Easing to pump €50 billion into European economy

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Quantitive Easing to pump €50 billion into European economy

A look at the stories coming out of the city this morning with The Evening Standard's city correspondent, Jamie Dunkley.

Quantitive Easing to pump €1 trillion into European economy

After months or discussions between the European nations, The European Central Bank has released the huge announcement that they will start their bond-buying scheme, known as ‘quantitive easing.’

In short terms, it will mean printing more money in order to try and stimulate the economy.

Today the bank is expected to pump half a trillion euros into Europe’s economy.

Reuters have reported, the total size of the scheme is put at €600 billion, but if it ran until the end of 2016, it could surpass €1 trillion.

Oil prices predicted to stay low for years

It has been good news for customers at the pumps, but it could be a darker picture globally.

The boss of Bp has predicted that oil prices are going to stay low for years, saying we could expect to see the price at the pumps to fall below £1 a litre.

Oil prices have halved in the past year, with crude oil trading at $48 a barrel.

But, this all mean that there will be lots of job cuts in the industry, this comes after after the oil giant Shell announced 350 job losses, a week after Bp cut 300 jobs.

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