Quantitative easing, the programme that buys up mainly government debt, has now become the Bank of England's standard tool for resuscitating the economy. After another £50bn injection in February, the total amount pumped into the economy since QE was introduced in 2009 stands at £325bn. That's enough to clear Greece's entire debt and, if minted into coins, would stretch around the world 25 times.
The Bank hopes the extra cash will boost investment and kick-start growth, helping the UK avoid another recession. But business groups argue that the money isn't going to the seeds of growth - small businesses. And growth needs to come, fast. The latest GDP data shows that the UK economy contracted by 0.2% in the last three months of 2011. If the next quarter also shows negative growth, we'll be in a double-dip. There's nothing magic about that.