Nov-8th-2009
Extra 25mn to help stimulate the economy
The Bank of England’s rate-setters have decided to pump an extra £25bn into the economy in their quantitative easing (QE) programme.
They also kept interest rates unchanged at 0.5% for an eighth month. The Bank has already spent £175bn on QE, which involves printing money to buy assets from banks and other companies to stimulate the economy. The extra £25bn will be spent over the next three months, which is a slower rate of spending than before. In the previous three months the Bank had spent £50bn. “It would be interesting to learn why the committee has gone for a smaller expansion of asset purchases than previously,” said Philip Shaw, economist at Investec.
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