Bank votes to maintain QE

The Bank of England will keep its quantitative easing (QE) scheme at £375bn, according to minutes of the bank’s monetary policy committee (MPC) released yesterday.

The Bank’s outgoing governor, Sir Mervyn King, voted for a £25bn increase in QE for the past three months, and been outvoted by six to three each time. The MPC unanimously agreed to leave the bank rate at 0.5 per cent earlier this month.