Bank expands QE by £50bn

The Bank of England's Monetary Policy Committee (MPC) has increased its quantitative easing programme by £50bn as it looks to shore up the UK's ailing economy.

Its widely expected decision to pump more money into the economy takes the quantitative easing (QE) programme to £325bn. The last time the Bank extended QE was back in October, when it raised the asset purchasing scheme from £200bn to £275bn. In a longer than expected statement accompanying the decision, the Bank said it was acting amid a decline in export markets, and tight credit conditions. It said: "Some recent business surveys have painted a more positive picture and asset prices have risen. But the pace of expansion in the United Kingdom's main export markets has also slowed and...