Bank of England launches new £150bn stimulus package
by Richard Partington Economics correspondent from Economics | The Guardian on (#59ZK0)
Move to prop up stricken economy comes amid second Covid wave and fresh restrictions
The Bank of England has launched a fresh 150bn stimulus package for the UK economy amid the second coronavirus wave and the reintroduction of lockdown across England.
Threadneedle Street's nine-member monetary policy committee (MPC) voted unanimously to ramp up its quantitative easing bond-buying programme to soften the economic fallout from rising infections and tougher restrictions.
Quantitative easing is what non-economists call "turning on the printing press". It is a tool used by central banks to inject money directly into the economy.
Related: Chancellor expected to extend furlough beyond December
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