The Bank of England injects another $125 billion to boost markets taking its total stimulus plan to almost $1 trillion

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• The Bank of England said on Thursday it would inject another $125 billion in monetary stimulus to shore up distressed financial markets, taking its total quantitative easing programme to $934 billion.
• The bank kept its interest rate unchanged at 0.1%.
• With the UK economy shrinking by 20% in April and further job losses in May, the central bank is facing intense pressure to do more to shore up the economy.
• Visit Business Insider's homepage for more stories.

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The UK's central bank said on Thursday it would add another £100 billion ($125 billion) of monetary stimulus to boost financial markets impacted by the coronavirus pandemic, taking its total stock of asset purchases to £745 billion ($934 billion). 

The Bank of England said it voted unanimously to maintain its bank rate at 0.1% at its monetary policy meeting held on Wednesday, while the Monetary Policy Committee voted 8-1 to boost its quantitative easing programme. The only dissenter was Chief Economist Andy Haldane.

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See Also:

• Spain launches a $4.2 billion coronavirus auto industry stimulus package
• The national debt tops $26 trillion for the first time as the federal government ramps up coronavirus relief spending
• A top Trump economic advisor says 'there is no second wave' of coronavirus as cases surge in over a dozen states

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