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More quantitative easing likely

The minutes from the May meeting of the Bank of England show that they discussed further quantitative easing, making such a move increasingly likely.

20 May, 2009

The MPC discussed increasing its programme of quantitative easing by £75 billion – the maximum allowed by the government. In the end they settled on a £50 billion extension. This was in addition to the initial £75 billion tranche announced in March. It is therefore extremely likely they will discuss using the remaining £25 billion at their next meeting next month.

The minutes also show that they were unanimous in keeping interest rates on hold at 0.5%.


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