Bank of Englands Ups QE Program by 50 Billion Pounds
February 9, 2012
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Bank of England Extends QE Program
Reuters is reporting that the Bank of England has approved an extension of the country’s quantitative easing program. The BOE governors approved the injection of another 50 billion pounds into the financial system to insure the economy stays out of recession.
England’s central bank left its benchmark interest rates unchanged at a record low of 0.5%.
The BOE expects the new QE funds to target government bonds over the next three months.
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