Bank of England unveils another big stimulus for UK economy

Bank of England has unveiled ar big stimulus for U.K. ecomy as it tries to limit scale of coronavirus recession.

In a statement Thursday, it said it was increasing its government bond-buying program by a furr 100 billion pounds ($125 billion). intention is to keep a lid on interest rates in financial markets and keep money flowing through financial system.

meeting of bank’s monetary policy committee is taking place in wake of figures showing that U.K. ecomy shrank by a fifth in April alone as a result of country’s lockdown with so many sectors shuttered.

committee also kept bank's main interest rate unchanged at 0.1%, as anticipated.