Monetary Policy Committee(MPC) member Adam Posen has revealed his reasons for abandoning his call for further stimulus to boost the UK economy, following the publication of this month's minutes.
Posen, writing in the Independent, said he had changed his stance on increasing quantitative easing because recent data pointed to an uptick in growth. He said: "The latest data convinced me that for now an additional £25bn could be unnecessary. "By the latest data, I do not mean one month's outturn on the headline CPI, however disappointing - neither I nor anyone else on the MPC will set our forecast based on one data point subject to so much monthly variation. "What I mean is our making sense of the mass of the range of indicators from business surveys and latest labour market da...
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