Bank of England Adds 75 billion to Quantitative Easing Program

The Bank of England (BoE) held the Bank Rate at a record low stimulatory level of 0.50%. However the BoE did announce a 75 billion pound expansion of its 200 billion pound asset purchase program (also known as quantitative easing), taking the new total to GBP 275 billion. The Bank said: "The pace of global expansion has slackened, especially in the United Kingdom's main export markets.