Bank of Engand trims rates 50 bps, as expected

As expected, the BOE has trimmed rates 50 bps to a record low 0.50% The Bank has also announced that it will spend GBP 75 bln on asset purchases to pump more money into the economy (quantitative easing.) Fin Min Darling has given the BOE a GBP 150 bln limit for asset purchases.