Bank of England decides against pumping extra cash into economy
RATE-setters held off from further help to ease the recession today after a surprise refusal to pump extra cash into the economy.
The Bank of England's Monetary Policy Committee (MPC) had been widely expected to expand its quantitative easing (QE) programme – effectively printing money – by 25 billion to 150 billion.
But the scale of the operation was left unchanged at 125 billion, while interest rates were held at their current 0.5% record low for the fourth month in a row.
The decision comes despite concerns over the fragility of recent signs of stabilisation in the economy following a steep decline.
Manufacturing output showed a surprise fall in May, while official figures have shown a far worse than expected 2.4% slump in overall GDP in the first three months of 2009 – the worst in more than 50 years.
Email to a friend
Print this page- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Family mourn death of Glasgow ‘fight’ schoolboy
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 8 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 11 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
