You are here: Home » International » News » Economy
Business Standard

Bank of England increases monetary stimulus by more than expected

The Bank of England has increased its monetary stimulus by a bigger than anticipated 150 billion pounds ($195 billion) as it tries to boost the economy through new lockdown measures

Topics
Bank of England | UK economy | Lockdown

AP  |  London 

Bank of England brings down stimulus sledgehammer to beat Brexit blues

The has increased its monetary stimulus by a bigger than anticipated 150 billion pounds (USD 195 billion) as it tries to boost the through new measures.

In a statement released Thursday, the bank's rate-setting panel said its challenge is to respond to the economic and financial impact of the resurgence of the coronavirus, which has led to the reimposition of widespread restrictions across the UK.

The consensus in financial markets was that the bank would raise its bond-buying program by 100 billion pounds.

The Monetary Policy Committee also kept its main interest rate unchanged at the record low of 0.1 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 05 2020. 14:59 IST
RECOMMENDED FOR YOU
.