£50bn more injected into UK economy
Updated on 07 May 2009
The Bank of England announces it is effectively printing more money, expanding what is known as quantitative easing, to a total of £125bn. Faisal Islam reports.
Another £50bn is to be injected into the British economy after a surprise move by the bank.
The move comes at a time when there is concern over whether the policy is doing anything to ease the credit crunch.
And appalling figures released by Lloyds today show the banking crisis is far from over.
As expected, the Bank of England also announced it was keeping interest rates on hold at half a per cent.
Banks discussion
George Magnus, senior economic adviser to UBS Investment Bank, speaks to Jon Snow.
