BoE boosts QE by £50 billion

The Bank of England (BoE) on February 9 left interest rates unchanged but stepped up its quantitative easing (QE) programme, amid concerns over the near-term outlook for growth in the UK.

The central bank’s Monetary Policy Committee (MPC) voted to increase the size of its Asset Purchase Programme by £50 billion ($79.3 billion) to £325 billion, with asset purchases spread out over the next three months. The bank rate was held at 0.5%.

The MPC said the underlying pace of recovery in the UK had

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