Thursday, November 5, 2009

BOE Expands Quantitative Easing Less Than Expected

The Bank of England expanded its quantitative easing program by 25 billion pounds to 200 billion pounds on Thursday. This expansion is less than expected by most observers and signals that the BOE may start a wind down of its QE program.

The sterling is trading higher against the dollar and most other currencies.

Separately, the European Central Bank said it will maintain its interest rates at current levels.

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