The Bank of England leaves rates unchanged and refrains from new stimulus

The Bank of England has decided not to extend its quantitative easing (QE) stimulus program, which has injected £375 billion into the UK financial system. Under QE, the Bank creates money and uses it to buy mainly government bonds to stimulate the economy. Members of the Bank’s Monetary Policy Committee also decided to keep interest rates at 0.5%, a record low since March 2009.