Breaking News: Base rate held and QE increased by £50bn

THE Bank of England kept the cost of borrowing steady at 0.5% today for the fifth successive month and increased its quantitative easing programme.

It said it would pump an additional £50bn into the economy through the scheme which is designed to stimulate the economy.

The Bank has so far earmarked £125bn which has been used to buy assets such as government securities and corporate bonds.

It was understood to be reluctant to increase debt if the economy is showing signs of recovery. The Office for National Stati... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...