The Bank of England held interest rates unchanged at their record low of 0.5% today.
The decision comes after six months of cuts from the Monetary Policy Committee (MPC) to tackle a worsening recession.
Rate-setters are now pinning hopes on an unprecedented £75bn (€82.8bn) programme of quantitative easing (QE) – effectively printing money – to ease credit conditions.
The MPC launched the strategy last month and has bought up almost £26.5bn (€29.2bn) in government and corporate debt so far under a three-month programme.
The committee is monitoring the impact of QE on the wider economy every month but announced no changes to the scale of the operation today.