B of E - £50 billion more economic aid

With the UK and overall European economy bumping along at the bottom as far as growth is concerned, the Bank of England has decided to provide further economic assistance in the shape of another round of QE or Quantitative easing, to the tune of £50 billion.

This makes a total of £375 billion aid the Bank has injected into the economy in the form of asset purchasing, designed to add financial liquidity that should filter down to all areas of the economy.

The UK is currently in a recession, with two quarters producing negative growth, that economists expected initially to be short and sharp but most recent economic data has pointed towards this period being somewhat longer and the Bank has decided to act before the situation deteriorates further.

There is a high probablity that this will not be the last round of QE.