Thursday, November 5, 2009

The European Union (EU) has approved plans for nationalised bank Northern Rock to be split in two - paving the way for a partial sale.

The Bank of England's rate-setters have decided to pump an extra £25bn into the economy in their quantitative easing (QE) programme.
They also kept interest rates unchanged at 0.5% for an eighth month.
The Bank has already spent £175bn on QE, which involves printing money to buy assets from banks and other companies to stimulate the economy.
The extra £25bn will be spent over the next three months, which is a slower rate of spending than before.
In the previous three months the Bank had spent £50bn

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