It said unemployment remained too high for a change in its quantitative easing policy.

BBC: US central bank keeps buying bonds to boost economy

But do not underestimate the eventual impact of quantitative change, especially in a market doubling annually.

ECONOMIST: Eventually, bigger means different

They miss the fact that quantitative changes in technology have produced a qualitative change in the economy as a whole.

FORBES: Woody and the Dow

Crafty, or sensible, we can say for sure that the change in policy represents a small easing in monetary policy, which will act much like another dose of quantitative easing over the coming months.

BBC: Why the Bank held off spending