Wednesday saw the English pound slip against the world's reserve currency as the Bank of England convened to ponder additional monetary stimulus during two days of meetings, Bloomberg reports.
Policy makers are reviewing whether they will support more stimulus to prompt economic growth and development. The English pound fell to its lowest value since July 2010 against the U.S. dollar.
Outgoing Bank of England governor Mervyn King said the Royal Bank of Scotland should be split up, according to Sky News.
"The way to minimize losses is to restructure the bank and get a healthy RBS back into the private sector," King said, according to Sky News, as he awaits retirement this summer. "It would clearly mean having a plan to create a healthy unit capable of attracting lending. It means a number of activities on the balance sheet need to be separated. Accepting that and facing up to the reality would be the right way forward."
Monetary stimulus in the U.K. presently amounts to 375 billion pounds and analysts view additional easing as pushing that total past 400 billion pounds.
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