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.
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
- Cumbria businessman lauded nationally as visionary
- Keep ownership until cash is in the bank
- Never underestimate the importance of lists
- Eight global markets already lined up for Lakes Gin
- Lakeland kitchenware predicting rapid growth
- Nuclear skills time bomb can be halted
- Sellafield ploughs £200k into local projects
- Should firms support Labour's minimum wage plans?
- Cumbrian businesses refute office space claims
- New Balance Cumbria is 'factory of the future'
- The £7 million semi-detached home in Carlisle?
- Carlisle Living Awards: winners revealed
- Movers and shakers in the Cumbrian business world
- Chef to hold masterclasses for food business start-ups
- Foreign visitors to Lake District on the rise
- Cumbrian village digs its own broadband network
- Story Homes submits plan for 190 houses in north Carlisle (46 comments)
- Record occupancy for Cumbria hotel