Sir Mervyn King voted to increase quantitative easing (QE) by a further £25bn at February's Monetary Policy Committee (MPC) meeting, latest minutes reveal.
The meeting, held on 6 and 7 February, saw the Bank of England keep QE on hold at £375bn - but minutes revealed a 6-3 split among committee members. King and Paul Fisher joined David Miles in voting for an extra £25bn of QE in February. Miles has called for more asset purchases since last November. Sterling slumped on the news, dropping by more than a cent against the dollar to fall below $1.53 for the first time since June 2012. The MPC suggested the precipitous decline in sterling seen since the start of 2013 is proving "expansionary" for the UK. However, the minutes struck a ...
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