BoE adds 25 billion pounds in monetary expansion

[November 05, 2009]  LONDON (AP) -- The Bank of England says it will pour another 25 billion pounds ($41 billion) into the economy and keep its main interest rate at 0.5 percent for the eighth consecutive month.

The bank decided Thursday to expand its asset purchase program to 200 billion pounds from 175 billion pounds. The purchases aim to increase the amount of money in the economy.

The move comes after last week's surprise news that the country remains in recession.

[Associated Press]

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