UK quantitative easing 6 months on

Already the Bank of England has bought £142bn ($233bn) in gilts – 20 per cent of the market – and £2bn in corporate assets.

The total size of the programme is £175bn – £50bn more than at the outset – but still less than the £200bn Mr King himself wanted before he was outvoted at a recent Bank meeting. QE involves the Bank electronically creating new money by buying gilts and corporate bonds in the market