BoE rattles markets with lacklustre QE

The Bank of England has voted to pump another £100 Billion into the UK economy via its quantitative easing programme. At the same time the Bank of England voted unanimously to keep interest rates on hold. The vote to increase the QE programme reflected the increasing level of uncertainty about the UK’s recovery trajectory into 2021. However, the market reacted negatively on the news as the £100 billion increase was seen as a overly hawkish raise and at the lower end of the projected increase which the market was hoping for.