Economy needs £50bn more QE - MPC member

Miles, a member of the Bank's interest-rate setting committee, said a substantial third round of emergency bond-buying would trigger a recovery. In an interview with the FT, he said: "Do we need a more expansionary monetary policy? ‘Yes’. Should it be a substantial change in asset purchases? ‘Yes’. Is £50bn a substantial number? ‘Yes it is’. "Could one know in advance what is exactly the right amount to do? ‘Absolutely not’.” The report said Miles voted for additional QE at this month's meeting of the Monetary Policy Committee (MPC), along with three other members including governor S...