*BoE: Expects Asset Purchase Scheme To Take Three Months To Complete

*BoE: Prospect Is For A Slow Recovery In The Level Of Economic Activity

*BoE: Need For Banks To Continue The Process Of Balance Sheet Repair Is Likely To Limit The Availability Of Credit

*BoE: High Levels Of Debt Will Weigh On Spending

*BoE: Asset Purchases Have Helped To Boost Asset Prices And Improve Access To Capital Markets