BoE unleashes £50bn of QE in bid to get UK out of recession

The Bank's Monetary Policy Committee (MPC) voted today to extend its asset purchase programme to £375bn, over three years since it first started the programme in March 2009. The additional stimulus comes following yesterday's below-par manufacturing figures, which showed the sector contracted for the second straight month in June, with new orders continuing to decline. UK GDP fell by 0.3% in the first three months of the year, sending the UK into recession following a 0.3% drop in the previous quarter. The Office for National Statistics is to release its initial estimate for Q2 GDP...