What's the point? Besides helping the bankers, there's nothing that suggests this is helping the broader population. Printing money, again, only highlights the deep links between the central bank and the bankers. Between the QE policies and the budget cuts through austerity, it's as though anyone below the super rich doesn't matter.
The Bank of England voted to inject another 50 billion pounds ($79.3 billion) into the financial system as part of its efforts to shore up a fragile recovery in the economy, which remains at risk of slipping back into recession. The central bank left its key interest rate at a record low of 0.5 percent, and as expected said it would buy another 50 billion pounds of assets—mostly government bonds—with freshly printed money. The cash boost will be welcome news for the government, which has come under pressure again to loosen its austerity drive after the economy shrank at the end of 2011 and unemployment hit its highest level in more than 17 years.