U.K.: A Halt to Quantitative Easing

The Bank of England decided Feb. 4 to cap its Asset Purchase Facility at 200 billion pounds ($316 billion). The program had been funded by quantitative easing (QE) — essentially the printing of new money. By ending the program now, the bank is reducing the threat of high inflation that accompanies the influx of new money, thereby making sure its job does not become more difficult than it already is.