Bank of England pumps an extra £100bn into UK economy
by Larry Elliott Economics editor from on (#54QTW)
Quantitative easing expanded to help Britain recover from coronavirus crisis
The Bank of England has announced a new 100bn stimulus package for the UK economy amid fears of a surge in unemployment in Britain's hotels, restaurants and shops following the end of the government's furlough scheme in the autumn.
Threadneedle Street's nine-member monetary policy committee (MPC) voted eight to one to boost the amount of money being pumped into the economy despite evidence that easing the lockdown had prompted a more rapid pickup in spending than the Bank envisaged.
Continue reading...