Carney against extra QE

The minutes of Mark Carney’s first Bank of England policy meeting show the vote to stay the course with QE was unanimous.

The nine members of the Monetary Policy Committee voted in favour of the proposition: “The Bank of England should maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.”

Read: U.S. can’t depend on QE

In recent months, “the Committee has been split [..] as two members had been voting with former governor Sir Mervyn King in favour of £25bn extra QE. They changed their vote at this latest meeting,” reports the Telegraph.

The committee also voted unanimously to keep interest rates at their record low of 0.5%.

Read: U.K will protect ‘irrational’ investors

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.