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Wednesday, November 18, 2009

Three Way Split

It seems that the Bank of England's Monetary Policy Committee (MPC) has suffered something of a three way split, with regards to what is the best course of action to take re stimulating the economy.

That at least is the inference to be drawn from the minutes from the MPC meeting this month.

Despite finally deciding to increase the level of quantitative easing (QE) by £25BN, the committee was divided three ways.

Spencer Dale wanted to leave it at £175BN, while David Miles wanted to increase it by £40BN.

The other seven members opted for the £25BN.

Time will tell as to which faction is right.

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