Bank of England's QE scheme boosted Britain's wealthiest

The wealthiest 5% of Britons saw their fortunes increased further by the Bank of England's economy-boosting efforts while many pension funds have suffered according to a report by the Bank.

Its quantitative easing (QE) programme has increased total household wealth by 16%, or £600 billion, after increasing the value of assets.

But it was the richest households - holding around 40% of these assets - that have felt the benefit the most.

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Bank of England pensions row

Pensioners group Saga have said the Bank of England's Quantative Easing measure are "impoverishing pensioners" after the bank issued a report saying that pension schemes had benefited.