Bank of England pumps another £50 billion into economy
- 00:02:18
- ITN
Bank of England pumps another £50 billion into economy
The Bank of England's policymakers have pumped an extra £50 billion into the UK's economy as interest rates are kept on hold at 0.5 per cent. The Monetary Policy Committee voted to keep rates at their record low but increased the scale of its programme to boost the money supply, by £50 billion to £175 billion. The decision to expand quantitative easing underlines the caution among policymakers over the strength of the UK's recovery from recession despite recent positive signs. Official figures and surveys have shown manufacturers and services firms are emerging from recession, while house prices have also risen. Economists expect the UK to return to growth between July and September but problems in the banking sector could still slow down the recovery.
ITN | August 6, 2009
