Corporate foreign exchange news
Forex market news: MPC divided over QE policy
Thursday, 19 November 2009 09:17:24 GMT

The Bank of England's Monetary Policy Committee's (MPC's) decision to extend the quantitative easing programme by £25 billion was not approved by all members, the minutes of the November policy meeting show.One member of the committee voted for a £40 billion extension of the asset purchase programme, which would have taken the total cost of the scheme to £215 billion.Meanwhile, another member expressed concern at the risks associated with the committee's loose monetary policy and voted in favour of maintaining the programme at £175 billion.While members were divided over the extension of the policy, all agreed that the programme should remain in place for at least three months and declared that the most sensible time to review the policy would be ahead of the February inflation report.The MPC will also gain clues to inflation trends in the upcoming Bank of England/GfK NOP inflation attitudes survey, which will be published on December 17th.



