Bank of England
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Bank of England to pump £75bn into economy

The Bank of England has said it will inject a further £75bn into the economy through quantitative easing (QE).

The Bank has already pumped £200bn into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks.

But this is the first time it has added to its QE programme since 2009. There had been calls for it to step in again to aid the fragile recovery.

The Bank also held interest rates at the record low of 0.5%.

Stephanie Flanders reports.

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