Bank of England minutes reveal King, Miles and Fisher voted to expand QE

Bank of England Monetary Policy Committee minutes have revealed that members King, Miles and Fisher again voted to expand quantitative easing by £25bn, while the six other members of the committee voted to hold asset purchases at the same level.

The minutes revealed that the committee considers the Eurozone crisis to be a key impediment to growth, with inflation expected to accelerate in the short term.

The majority of members said that prior purchases and the funding for lending scheme had helped to revive the economy. Some members said that more quantitiative easing could help recovery on the supply side although some said that this could raise questions about the Bank's CPI tolerance.