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05/07/2012
BoE To Pump Extra £50bn Into UK
An extra £50 billion will be pumped into the UK economy over the next four months through the quantitative easing (QE) programme to try and boost demand, the Bank of England has announced.
QE is the Bank's scheme that aims to boost the economy by buying bonds. Currently the stimulus stands at £325bn.
The Bank also said it would leave UK interest rates unchanged at 0.5%.
The Bank's Monetary Policy Committee (MPC) has held rates at their current record low for more than three years.
The Bank said that the UK economy, which is back in recession, had "barely grown for a year and a half", and added that growth in export markets had also slowed.
The additional stimulus had been expected following last month's MPC meeting, when four of the nine members voted to increase QE.
Since then, the UK economy has shown no real signs of recovery.
(H)
QE is the Bank's scheme that aims to boost the economy by buying bonds. Currently the stimulus stands at £325bn.
The Bank also said it would leave UK interest rates unchanged at 0.5%.
The Bank's Monetary Policy Committee (MPC) has held rates at their current record low for more than three years.
The Bank said that the UK economy, which is back in recession, had "barely grown for a year and a half", and added that growth in export markets had also slowed.
The additional stimulus had been expected following last month's MPC meeting, when four of the nine members voted to increase QE.
Since then, the UK economy has shown no real signs of recovery.
(H)
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04 August 2011
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The interest rate has again been kept at the record low of 0.5% by the Bank of England's Monetary Policy Committee (MPC). This comes as no surprise as most economists had anticipated that the rates would remain unchanged due to the subdued economy after new that GDP figures for the second quarter showed growth of just 0.2%.
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06 October 2011
Bank Of England Bolsters Economy
The UK's central banking organisation, the Bank of England is to inject a further £75bn into the economy through a process known as quantitative easing (QE).
Bank Of England Bolsters Economy
The UK's central banking organisation, the Bank of England is to inject a further £75bn into the economy through a process known as quantitative easing (QE).
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