BOE's Barker: Economic Conditions Are Stabilizing

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07:33 16Jul09 BOE'S BARKER: ECONOMIC CONDITIONS ARE STABILIZING - REPORT
07:34 16Jul09 BOE BARKER: ECONOMY SHOULD START GROWING LATE 2009 - REPORT
07:45 16Jul09 BOE's Barker: Economic Conditions Are Stabilizing - Report


LONDON--Bank of England Monetary Policy Committee member Kate Barker has said that U.K. economic conditions are stabilizing and she expects to see a pick up in activity towards the end of this year.

In an interview with the Hull Daily Mail during a recent regional visit, Barker also said that the impact of the bank's quantitative easing policy - through which it is buying GBP125 billion of public and private sector securities with freshly created central bank money - should become more apparent next year.

"I think the feedback today, compared with the past three months of last year and the first three of this year, which were really awful with some very big falls in activity, is that things are a lot better and are stabilizing," Barker was quoted as saying.

"What people are not seeing is the kind of pick-up in activity that gives them confidence we are going to sustain that performance as we move on through the year," she said, adding that she hoped to see a return to growth later in the year.