{"id":27262,"date":"2012-02-09T11:26:00","date_gmt":"2012-02-09T16:26:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/02\/09\/bank-of-england-expands-app-by-50b-to-325b\/"},"modified":"2012-02-09T11:26:00","modified_gmt":"2012-02-09T16:26:00","slug":"bank-of-england-expands-app-by-50b-to-325b","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/02\/09\/bank-of-england-expands-app-by-50b-to-325b\/","title":{"rendered":"Bank of England Expands APP by 50B to 325B"},"content":{"rendered":"
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The Bank of England<\/a> (BoE) held the Bank Rate at 0.50%, and expanded its Asset Purchase Program (Quantitative Easing<\/a>) target by 50 billion to a new total of GBP 325 billion, after increasing it by 75 billion<\/a> at its October meeting.  On its asset purchase program, the Bank said: “<\/span><\/span>In the light of its most recent economic projections, the Committee judged that the weak near-term growth outlook and associated downward pressure from economic slack meant that, without further monetary stimulus, it was more likely than not that inflation would undershoot the 2% target in the medium term.”
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<\/a>The Bank also held the official <\/span>Bank Rate<\/a> unchanged at 0.50% at its December meeting last year; the rate has remained on hold since March 2009, when the Bank reduced the interest rate by 50 basis points to 0.50%.  The United Kingdom reported annual consumer price inflation of 4.2% in December, 5.2% in September, 4.5% in August, and 4.4% in July, and still above the Bank’s inflation target of 2.00%.<\/span><\/p>\n

The UK saw quarterly GDP growth of 0.5% in Q3 this year (0.1% in Q2, 0.5% in Q1), while annual economic growth was reported at 0.5% (0.7% in Q2, 1.6% in Q1).  <\/span><\/span>The British <\/span>pound (GBP) has weakened by about 2% against the US dollar over the past year, while the USDGBP exchange rate last traded around 0.63<\/span><\/p>\n
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www.CentralBankNews.info<\/a><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n
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The Bank of England (BoE) held the Bank Rate at 0.50%, and expanded its Asset Purchase Program (Quantitative Easing) target by 50 billion to a new total of GBP 325 billion, after increasing it by 75 billion at its October meeting.  On its asset purchase program, the Bank said: “In the light of its most recent economic projections, the Committee … <\/p>\n

Continue reading “Bank of England Expands APP by 50B to 325B”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-27262","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=27262"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27262\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=27262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=27262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=27262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}