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Thursday, November 05, 2009
BOE Expands Asset Purchase Plan By $41 Billion
By William L. Watts
MarketWatch Pulse
LONDON -- The Bank of England's Monetary Policy Committee on Thursday expanded its asset-purchase program by 25 billion pounds ($41 billion) to a total of 200 billion pounds. A majority of economists had expected the central bank to boost the program by 25 billion pounds to 50 billion pounds, but many had warned that the possibility of a pause couldn't be ruled out. As expected, the bank left its key lending rate unchanged at a record low 0.5%, where it has stood since March.
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