Loans and Finance

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Wednesday, August 19, 2009

King Outvoted

Mervyn King, Governor of the Bank of England, wss outvoted (6-3) by fellow members of the Monetary Policy Committee on 6 August when he and two others argued for a £75BN injection of cash into the economy via quantitative easing.

Instead the Committee settled for £50BN.

Given that the injection in itself came as a surprise to many, it is clear that the Bank has greater concerns about the economy than it may be stating in public.

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