Two Policymakers vote for more stimulus
Minutes from the Bank of England’s February meeting showed two policymakers voted for a larger stimulus whereas the other eight voted in line with market expectations. In this month’s meeting the BoE announced an increase by £50 billion to their asset purchases target but minutes showed an 8-2 vote among policymakers. David Miles and Adam Posen voted for a £75 billion increase to their QE program.
Today’s minutes, will likely keep debate alive on whether the central bank will add more stimulus in the coming months. The BoE MPC also voted 9–0 to keep rates at a record low of 0.50 percent.
GBP/USD plummeted more than 75 points to 1.5694 from 1.5770 at the release of the BoE’s MPC meeting minutes. EUR/GBP rose to 0.8432 from 0.8384.
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