MPC member Posen calls for more QE

Speaking to the Hull and Humber Chamber of Commerce, Adam Posen, an external member of the committee, argued more needed to be done to stimulate the economy. He said: "The risks that I believe we face now are the far more serious ones of sustained low growth turning into a self-fulfilling prophecy, and/or inducing a political reaction that could undermine our long-run stability and prosperity. "Inaction by central banks could ratify decisions both by businesses to lastingly shrink the economy's productive capacity, and by investors to avoid risk and prefer cash. "Those tendencies a...