Bank expected to hold off more QE

The Bank of England is expected to resist calls to pump more emergency cash into the economy on Thursday despite fears the UK may have slipped back into recession.

The economy shrank by a bigger than previously thought 0.3% in the final quarter of 2011, according to revised figures, while the OECD said there was a further contraction of 0.1% in the first three months of 2012, meaning the economy was back in recession.