The Bank of England "can only do so much" to support the U.K. economy as many of the challenges it faces emanate from overseas, the central bank's chief economist was quoted as saying Wednesday. Spencer Dale told the Macclesfield Express newspaper slowing activity in the global economy and the sovereign debt problems of the neighboring euro-zone are weighing on the U.K. economy. "We can only do so much to support growth in the U.K. when so much of what is affecting our economy is what is happening with the rest of the world. I hope in Europe, where uncertainty is weighing on our economy, can be addressed quickly," the paper quoted him as saying. The Bank of England's nine policy makers voted Oct. 6 to revive the central bank's stimulus program with an additional GBP75 billion of bond purchases funded with newly-created money. It bought GBP200 billion of assets between March 2009 and February 2010. Dale has uncertained about the U.K.'s prospects is holding back spending at home by businesses and households. But he said the rate of inflation in the U.K., measured at 5.2% in September, should decline in 2012. "The good news is that I am pretty confident that inflation will fall sharply by the beginning of the next year, so the pain that households have been feeling should start to ease," Dale said. "That will help to reduce some of the pressure of household budgets."