BOE Keeps QE on Hold as Officials Weigh More Radical Tools

The Bank of England left its four-year-old bond-purchase program unchanged today as policy makers debate more radical measures to aid the recovery.

The Monetary Policy Committee led by Governor Mervyn King maintained its target for quantitative easing at 375 billion pounds ($565 billion). The decision was forecast by 29 of 39 economists in a Bloomberg News survey, with the remainder having predicted an expansion of at least 25 billion pounds. The pound rose after the announcement.