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.
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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
