City A.M. Reporter
Bank of England refrained from pumping more cash into the economy today, leaving the current stimulus programme at £375bn.
The decision to hold quantitative easing is likely to have been close, with rate setters weighing up the UK’s GDP growth in the third quarter against signs of renewed weakness since then.
It is understood that several members of the Monetary Policy Committee have voiced concerns over inflation and doubts about the continued effectiveness of its asset-buying programme in boosting the economy.
The central bank also kept the base rate at a record low of 0.5 per cent, where it has stood since March 2009.