Bank of England refrains from further stimulus

The Bank of England has decided not to extend its quantitative easing (QE) stimulus programme, which has injected £375bn into the UK financial system.

Under QE, the Bank creates money and uses it to buy government bonds to try to stimulate the economy.

The Bank's Monetary Policy Committee also decided to keep interest rates at 0.5%, the record low they have been held at since March 2009.

Hugh Pym reports.

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