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In this article, the author talks about the Bank of England. Because of the recession, Bank of England tried to stabilize the state of the economy. So it has kept its stimulus programme of quantitative easing (QE) unchanged and also held interest rates at 0.5%. Quantitative easing is is an unconventional monetary policy used by central banks to stimulate the national economy when standard monetary policy has become ineffective. A central bank implements quantitative easing by buying financial assets from commercial banks and other private institutions, thus increasing the monetary base. The first quarter GDP figures, showing growth of 0.3%, were also felt to have reduced the need for more QE. Also, industrial output rose 0.7% in March from February, a bigger increase than forecast. Manufacturing output rose by 1.1%.