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Quantitative easing: How much money has the Bank of England pumped into the British economy?

And when? These figures show exactly how much has been spent propping up the UK by the Bank
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The Bank of England has announced it’s pumping another £50bn into the UK economy in a further attempt to lift it out of recession, raising the total amount of new money created under the quantitative easing (QE) programme to £175bn.

The move is bigger than economists had expected, with the Bank admitting the recession had been “deeper than previously thought”. It also noted that the world economy is still in recession.

How does the process work? Basically, the Bank buys assets, and those purchases effectively put money into the markets. So, out of the £199.4bn it has bought so far, the vast majority – £198.3bn – have been gilts. The bank makes all this data available on its website.

These figures show the purchases of gilts since QE started.

Is the fact that George Osborne is now talking about “credit easing” an admission that this policy hasn’t worked?

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