For though the Bank of England will pay for the purchases by crediting the accounts of commercial banks, it is creating money just as surely as if it were printing notes.

• 但是，如果英国央行无法近一步降低利率水平，它还仍然可以另外一个刺激经济的方法，即调高基础货币（现金及商业银行储备金）存量。