X

Cookies

Continue We want you to get the most out of using this website, which is why we and our partners use cookies. By continuing to use this site, you are agreeing to receive these cookies. You can find out more about how we use cookies here.
 

Thursday, 17 April 2014

Bank of England boss Mervyn King pushed for spending boost

BANK of England governor Sir Mervyn King called for more economy-boosting measures after the UK was left on the brink of a triple-dip recession.

P849682.jpgds
SIR MERVYN KING

Minutes of this month’s interest rate meeting revealed that Sir Mervyn and fellow Monetary Policy Committee (MPC) members David Miles and Paul Fisher wanted another £25bn in quantitative easing amid fears for the recovery after the economy shrank by a worse-than-expected 0.3 per cent in the fourth quarter.

But they were outvoted by 6-3 as the MPC decided more targeted measures would be more effective and as the bank’s latest quarterly forecast warned inflation was set to rise further.

SHARE THIS ARTICLE

Vote

Is the economy recovering?

Yes

No

Show Result

Hot jobs

New vacancies

FeedWind

BBC News business headlines

FeedWind