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BOE keeps rate steady, ups asset purchase program

07-06-2012 10:14 BJT

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The Bank of England further eased its monetary policy earlier today, to inject some much-needed momentum in Britain's recession-hit economy.

The central bank is set to increase the size of its asset purchase program, by 50 billion pounds to a total of 375 billion pounds. Meanwhile, the BOE is keeping its key interest rate at a record-low half a percent, where it’s been for more than three years. The central bank cites marginally economic output, and easing inflationary pressure for its decision.

The Bank of Englad started its quantitative easing stimulus policy in March 2009 when it also slashed its key interest rate to an all-time low.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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