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Bank of England holds rates at 0.1% and reveals £150bn in fresh QE

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BUSINESS LIVE: Bank of England holds rates at 0.1% and reveals £150bn in fresh QE, as stock markets rise despite US election turmoil

By Jane Denton For Thisismoney

Published: | Updated:

The Bank of England has unleashed another £150billion of action to bolster the battered economy and warned that output will fall in the final three months of 2020 as a result of the second lockdown.

Members of the Bank’s Monetary Policy Committee voted unanimously to expand its quantitative easing programme to a mammoth £895 billion, but held rates at the historic low of 0.1 per cent 

Across the pond, US stocks ended up finishing up strongly again overnight, as the election battle rages. 

 

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source: dailymail.co.uk