Interest rates held at 0.5 per cent
Updated on 05 November 2009
The Bank of England is to boost its quantitative easing programme by £25bn to aid a struggling economy as interest rates remained unchanged at 0.5 per cent.
The Bank of England voted to boost its quantitative easing (QE) programme, which is aimed at increasing the money supply and helping the economy, bringing planned spending to a total of £200bn.
At the end of a two-day meeting, the Monetary Policy Committee (MPC) also chose to keep interest rates at their record low of 0.5 per cent.
While other countries have begun to emerge from recession recent shock figures showed a decline in the UK economy between July and September.
Other major economies - including the US, France and Germany - have left the UK behind as they shrugged off their economic slumps, putting further pressure on officials to come up with additional measures.
