Miles: Print £175bn more

Tim Wallace
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BANK of England policymaker David Miles yesterday called for at least an additional £175bn of quantitative easing (QE), arguing it is the best way to help boost the economy.

Miles believes there is a large output gap in the UK currently which could be reduced by printing more money, boosting demand and encouraging firms to invest more, increasing output capacity in the longer term.

Sir Mervyn King and Paul Fisher joined Miles in voting for another £25bn QE this month, a change from his recent lone call for more easing.