Your support helps us to tell the story
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.
Whether $5 or $50, every contribution counts.
Support us to deliver journalism without an agenda.
Louise Thomas
Editor
A three-way split emerged between Bank of England policymakers this month as rate setters remained undecided over the timing of recovery-boosting measures, it was revealed today.
Minutes of the October rates meeting showed that one member of the Bank's Monetary Policy Committee (MPC) - Adam Posen - called for a £50 billion hike in the so-called Quantitative Easing programme (QE), while Andrew Sentance maintained his vote for a quarter point rate hike to calm inflation.
The report confirmed that a growing number of members felt the need for more QE had increased in recent months.
But the MPC held fire on QE and voted to keep rates at 0.5%, citing the Bank's November inflation report as being a crucial decider in future moves.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments