Bank of England launches new £150bn stimulus package

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Move to prop up stricken economy comes amid second Covid wave and fresh restrictions

The Bank of England has launched a fresh £150bn stimulus package for the UK economy amid the second Covid wave and the reintroduction of lockdown across England.

Threadneedle Street’s nine-member monetary policy committee (MPC) voted unanimously to ramp up its quantitative easing bond-buying programme to soften the economic fallout from rising infections and draconian controls.

New national restrictions are due to come into effect in England on Thursday, after MPs vote on them, and remain in place at least until 2 December.

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