Bank of England expands QE by £25bn
Thursday, 5 November 2009 | 
Finance - Banki...
The Bank of England’s monetary policy committee voted on Thursday to expand its vast programme of pumping cash into the UK economy by £25bn, in a sign it remains worried about the outlook in spite of incipient signs of recovery.
As expected, the Bank left interest rates unchanged at 0.5 per cent.
The move to increase quantitative easing – creating money to boost spending – from the existing £175bn used had been widely expected by economists after official figures suggested the UK remained mired in recession in the third quarter.
However, the addition of a further £25bn, which is likely to be used mostly to buy government debt, signals a slowing down in the pace of the Bank’s monetary easing. In August, the Bank had opted to expand the programme by £50bn, which has been used up during the past three months.
Source: FT
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