Bank of England boss Mervyn King pushed for spending boost
Published at 16:00, Thursday, 21 February 2013
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.
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.
Published by http://www.nwemail.co.uk
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