Lagging UK economy soaks up another £25 billion

The Bank of England's rate-setters have agreed to pump an extra £25 billion into the economy to help push Britain out of recession. Policymakers voted to boost the quantitative easing (QE) programme again, which means an extra £200 billion has been injected into the system so far this year. The aim is to increase the money supply to revive the economy, but to date the measure has not worked. Britain is still locked in its longest economic downturn since the 1950s. Meanwhile, the Monetary Policy Committee (MPC) has chosen to keep interest rates at their record low of 0.5 per cent, which will come as a relief for mortgage holders.

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ITN | November 5, 2009

Tags:. .mpc. .setters. .policymakers. .monetary. .downturn