Bank surprise boosts sterling

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The Bank of England surprised markets on Thursday by opting against expanding its quantitative easing programme.

The Bank said that it would continue to devote £125 billion ($202 billion) to its quantitative easing programme, despite being granted the authority to expand the programme to up to £50 billion.

The committee, which has so far spent £112 billion, said it expected to spend the additional £13 billion by a month today. The committee added that it would review the scale of the programme a

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