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Beginning in March 2009, the Bank of England had purchased around £165 billion in assets as of September 2009 and around £175 billion in assets by the end of October 2009. At its meeting in November 2009, the Monetary Policy Committee (MPC) voted to increase total asset purchases to £200 billion. Most of the assets purchased have been UK government securities (gilts); the Bank has also purchased smaller quantities of high-quality private-sector assets. In October 2011, the Bank of England announced that it would undertake another round of QE, creating an additional £75 billion. In February 2012 it announced an additional £50 billion. In July 2012 it announced another £50 billion, bringing the total amount to £375 billion
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