Business News
Bank of England pumps more cash into economy, keeps rates steady
Feb 9, 2012, 12:16 GMT
London - The Bank of England kept interest rates at a record low of 0.5 per cent Thursday, but decided to pump an additional 50 billion pounds (79 billion dollars) into the economy, in what is known as a programme of quantitative easing (QE).
The extra cash injected into the economy - effectively printing more money - takes the total of the QE programme to 325 billion pounds.
The measure, even though bearing an inflationary risk, is seen as a bid to stave off a recession in Britain. Interest rates have been at the historically low level of 0.5 per cent for almost three years.
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