MPC members split on £25bn QE boost
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Seven members of the Monetary Policy Committee voted in favour of injecting an additional £25bn into the quantitative easing scheme, with two voting against, minutes from the meeting reveal.
David Miles preferred to increase the size of the asset purchase programme by £40bn to a total of £215bn. Miles said this would “provide greater insurance against the downside risks to growth and inflation arising from constrained credit supply.”
Spencer Dale preferred to leave the size of the asset purchase programme unchanged at a total of £175bn.
The members voted unanimous in the decision to keep interest rates at 0.5%.
The decision to pump an extra £25bn into the economy brings the total planned spending under the policy to £200bn.
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