Bank expands QE by £50bn; Rates held

Its widely expected decision to pump more money into the economy takes the quantitative easing (QE) programme to £325bn. The last time the Bank extended QE was back in October, raising it from £200bn to £275bn. Minutes from last month's MPC meeting revealed growing consensus for a new round of QE. Meanwhile, the Bank has opted to hold interest rates for the 35th consecutive month at 0.5%, where they have remained since March 2009. Its decision to extend the asset purchase programme comes as the UK hangs on the verge of recession after the economy contracted by 0.2% in the last quar...