The Bank's Monetary Policy Committee voted for the first time since November 2009 to increase its purchases of gilts, this time by a further £75bn to £275bn. Many economists had expected the move, known as quantitative easing, to come in November after the MPC reviews its forecasts for growth and inflation and that it would opt for a more limited £50bn move.
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Friday, October 07, 2011
Bank Of England Increases QE By £75bn
(Financial Times) -- The Bank of England acted more swiftly and more decisively on Thursday than most economists had expected to inject a further round of stimulus into the economy, as its governor warned that the nation may be facing its "most serious financial crisis ever."
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