Outvoted King wanted £75bn QE injection

clock

Mervyn King was outvoted by fellow policymakers in his attempts to pump even more money into the economy this month.

The minutes of the Bank of England's Monetary Policy Committee (MPC) meeting on 6 August reveal King and two other committee members, Tim Besley and David Miles, wanted to extend the quantitative easing programme by £75bn rather than the £50bn which was injected. They believed an increase to a total of £200bn was necessary as there was a risk inflation could stay below the bank's 2% inflation target for a "sustained" period of time. "The potential adverse consequences of adding another large monetary stimulus might be less severe than the possible costs of acting too cautiously." they...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Almost six in ten advisers open to simplified advice

Almost six in ten advisers open to simplified advice

Vanguard survey finds

Jen Frost
clock 07 September 2026 • 2 min read
'Don't think of consolidation as the end of independent advice. It isn't'

'Don't think of consolidation as the end of independent advice. It isn't'

Continuity before everything else

Tom Rowe-Jones
clock 02 September 2026 • 5 min read
SENDA calls on profession to share how it supports families with disabilities

SENDA calls on profession to share how it supports families with disabilities

Part of white paper launching in November

Isabel Baxter
clock 02 September 2026 • 2 min read