Bank of England Prints More Money 75 Billion QE3
Published / Last Updated on 05/10/2011
Bank of England Prints More Money 75 Billion QE3.
Following a meeting of the Monetary Policy Committee, interest rates will remain unchanged at 0.5%. It also confirmed an extension of its government debt buy back programme by confirming another £75 billion in quantitative easing (QE3) (basically printing more money to pay its debts owed to banks etc., which will release money back into the economy).
This third round of QE, takes the total to £275bn.