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BoE to pump eco with £50bn of new cash (Eco news)

BoE to pump eco with £50bn of new cash
Pakistan Daily Times reported

The Bank of England will inject another £50 billion (60 billion euros, $80 billion) into Britain’s weak economy and keep interest rates at a record-low 0.50 percent, it said on Thursday.

“The Bank of England’s Monetary Policy Committee today voted to maintain the official bank rate paid on commercial bank reserves at 0.50 percent,” said a statement.

“The Committee also voted to increase the size of its asset purchase programme, financed by the issuance of central bank reserves, by £50 billion to a total of £325 billion.”


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