Bank Considered Boosting Money Supply This Month ; Mpc Feared Recovery Is Starting to Slow Down

Summary

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BANK OF ENGLAND policymakers considered further action to boost the economy this month amid concerns over tightening credit conditions and a slowdown in the UK recovery, it emerged yesterday.

Minutes of the bank's August interest rate meeting showed the Monetary Policy Committee discussed the need for more quantitative easing, but opted to keep its programme to boost the money supply at pounds 200bn Members voted 8-1 to leave interest rates at a record low of 0.5%, although the minutes revealed they also considered the arguments in favour of a small increase from the current "exceptionally low" level. Andrew Sentance remained the only member on the committee to vote in favour of a rise to 0.75%.

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Bank Considered Boosting Money Supply This Month ; Mpc Feared Recovery Is Starting to Slow Down

Details of the MPC's discussion came a day after figures revealed inflation had edged down from 3....

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