The BOE’s (Bank of England) Monetary Policy Committee voted to keep England’s Bank Rate on commercial bank reserves at 0.5%. They also decided to keep their asset purchasing at 375 billion pounds. 375 billion pounds is equivalent to about $580 billion.
Some economists expect the Bank of England’s Quantitative Easing efforts to expand later in the year. (NYT)
The BOE hasn’t changed their bank rate since March 5th, 2009 so it was not much of a surprise that today showed a steady rate. (Bank of England)
To learn a little more about Quantitative Easing, visit this article (even though it’s America focused).
Also, Thursday’s U.S. unemployment figures were released at 323K, the lowest figure since 2008.
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