BCC urges BOE to end its bond-purchase plan

The Bank of England should stop its bond-buying plan after completing the current £200bn tranche, sa

According to the BCC, the index for manufacturing domestic sales rose to 3 from minus 10 in the previous quarter, and the index for export sales rose to twenty from zero. Confidence about sales at manufacturers and services companies rose to the highest level since the first quarter of 2008.

David Frost, director general of the BCC said that it will be better to wait till the middle of the year. If it emerges that the economy is not able to sustain itself, it would make sense to come back and look to see where additional pumping is needed.

The BOE is keen on completing its current bond purchase program as the government is bent upon cutting the nation's budget deficit.