BoE holds back from further cash injections

The Bank of England held back from pumping more emergency cash into the economy yesterday, amid hopes that Britain has avoided a technical recession in the first three months of the year.

The Bank’s Monetary Policy Committee (MPC) kept its quantitative easing (QE) stock at £325bn (€390bn), after injecting £50bn in February, while holding interest rates at a record low of 0.5%.

The MPC’s April meeting follows a number of positive surveys that have suggested the economy returned to growth in the first quarter of the year.