25GBP billion more QE
(6 November 2009 – UK) The Bank of England has announced that it will increase the Quantitative Easing (QE) asset purchase program by a further £25 billion (A$45.46 billion).
The BoE’s Monetary Policy Committee has voted to keep the official bank rate at 0.50 percent and voted to also extend the asset purchases program to £200 billion.
The asset program is designed to boost lending by the British central bank by buying bonds from commercial institutions to increase lending to businesses and individuals.
The Bank of England has said that the world economy has shown signs of recovery, with a number of emerging market economies experiencing strong rebound in growth, although global activity as a whole remains significantly depressed.
The central bank has said that it will take three months to complete the additional purchases and the scale of the program would be kept under review.
The asset program is designed to boost lending by the British central bank by buying bonds from commercial institutions to increase lending to businesses and individuals.
The Bank of England has said that the world economy has shown signs of recovery, with a number of emerging market economies experiencing strong rebound in growth, although global activity as a whole remains significantly depressed.
The central bank has said that it will take three months to complete the additional purchases and the scale of the program would be kept under review.
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