Published Date:
09 April 2009
The Bank of England held interest rates unchanged at their record low of 0.5% today.
The decision comes after six months of cuts from the Monetary Policy Committee (MPC) to tackle a worsening recession.
Rate-setters are now pinning hopes on an unprecedented £75 billion programme of quantitative easing (QE) – effectively printing money – to ease credit conditions.
The MPC launched the strategy last month and has bought up almost £26.5 billion in Government and corporate debt so far under a three-month programme.
The committee is monitoring the impact of QE on the wider economy every month but announced no changes to the scale of the operation today.
The full article contains 120 words and appears in Edinburgh Evening News newspaper.
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Last Updated:
09 April 2009 12:24 PM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
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Related Topics:
Interest rates
