Bank of England Opts for QE 50% Greater Than the Markets Had Expected

When in doubt, turn on the spigots. That appeared to be the guiding “thought” behind the Bank of England’s decision today to increase its total stock of asset purchases (QE) from about $1.0 trillion to $1.2 trillion. Along with maintaining its main lending rate at 0.1%, the Bank of England’s Monetary Policy Committee also voted to expand its QE holdings by about $200 billion – whereas the “consensus” in financial markets had been that it would only rise by $130 billion.