The Bank of England held interest rates unchanged at their record low of 0.5% today. The decision comes after six months of cuts from the Monetary Policy Committee (MPC) to tackle a worsening recession.
Rate-setters are now pinning hopes on an unprecedented £75 billion sterling programme of quantitative easing to ease credit conditions.
The Bank of England launched the strategy last month and has bought up almost £26.5 billion in Government and corporate debt so far under a three-month programme.
The committee is monitoring the impact of quantitative easing on the wider economy every month but announced no changes to the scale of the operation today.
