UK Darling: QE Ceiling Raised By GBP25 Billion To GBP200 Billion
Thu, Nov 5 2009, 12:30 GMT
http://www.djnewswires.com/eu
LONDON -(Dow Jones)- U.K. Chancellor of the Exchequer Alistair Darling extended the ceiling Thursday on the Bank of England's bond-buying program to GBP200 billion, from GBP175 billion.
The move comes after the Bank of England's Monetary Policy Committee requested permission to extend the program, known as "quantitative easing", to GBP200 billion.
In a letter to BOE Governor Mervyn King dated Thursday, Darling said "I agree that an increase in the ceiling would provide the MPC with scope to vary the stance of monetary policy to meet the inflation target."
-By Laurence Norman, Dow Jones Newswires; 44-207-842-9270; laurence.norman@dowjones.com
(MORE TO FOLLOW) Dow Jones Newswires
November 05, 2009 07:30 ET (12:30 GMT)
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