The Bank of England Monetary Policy committee (MPC) was again divided this month over its Bank Rate decision.
Seven members of the Committee (the Governor, Charles Bean, Paul Tucker, Spencer Dale, Paul Fisher, David Miles and Martin Weale) voted in favour of keeping the rate at 0.5% and maintaining quantitative easing at £200 billion.
Two members of the Committee voted against the proposition. Adam Posen preferred to maintain Bank Rate at 0.5% and increase the size of the asset purchase programme by £50 billion to a total of £250 billion. Andrew Sentance preferred to increase Bank Rate by 25 basis points and to maintain the size of the asset purchase programme at £200 billion.
