Bank of England to pump in £50bn more quantitative easing
The Bank of England has agreed to extend its quantitative easing (QE) programme by £50bn try to kickstart the economy.
It will bring the total amount of QE stimulus to £325bn.
The Bank started its QE programme, through which it buys mainly government-issued bonds from banks freeing up cash for lending, in 2009.
The Bank’s Monetary Policy Committee (MPC) also said it would keep interest rates at their record low of 0.5 per cent – it has been frozen at that level since March 2009.