The Monetary Policy Committee within the Bank of England is making grave attempts to see a triple dip recession remains only theoretical and does not come to pass.  The economic impact of such a recession would be devastating and consumer confidence would surely drop to new lows.  The latest MPC meeting dealt with factors which impact the economy and possible recession threats, including more quantitative easing.  The committee also tackled the issue of furthering the Funding for Lending scheme.

Minutes from the most recent meeting indicate a split in the decision to increase the amount of quantitative easing.  Citing possible increases in inflation, the amount of QE was left alone.

Additionally, the minutes indicated a desire by the committee to continue the Funding for Lending scheme.  This scheme was designed to offer individuals and businesses an avenue to increase lending which carried lower interest rates.  The following was a comment included in the minutes of the meeting: THE Bank of England's Monetary Policy Committee (MPC) remains split on whether to increase the quantitative easing programme but has signalled it may extend the Funding for Lending scheme (FLS). "The committee agreed that a well-capitalised banking system was essential to improving the supply of credit and the supply capacity of the economy in the medium term. The committee also saw merit in possible extensions to the FLS that would boost lending further."

The current deadline for the Funding for Lending scheme is January 31 of 2014.

Further remarks included in the minutes of the meeting were as follows: "The committee agreed that a well-capitalised banking system was essential to improving the supply of credit and the supply capacity of the economy in the medium term. The committee also saw merit in possible extensions to the FLS that would boost lending further."