The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to hold the Bank Rate at 0.5% a fortnight ago.

Over the question of whether to keep the stock of asset purchases financed by the issuance of central bank reserves (‘quantitative easing’) at £200 billion, eight members of the Committee (the Governor, Charles Bean, Paul Tucker, Ben Broadbent, Spencer Dale, Paul Fisher, David Miles and Martin Weale) voted in favour of the proposition.

Adam Posen voted against the proposition, preferring to increase the size of the asset purchase programme by £50 billion to a total of £250 billion.