Mark Carney And Bank Chiefs Vote Against Quantitative Easing And Raising Interest Rates

The Huffington Post UK ^ | July 17, 2013 | Asa Bennett

[John W]

Bank of England governor Mark Carney voted against printing more money under the “quantitative easing” programme at his first policy meeting earlier in July, according to official meeting minutes released today.

All of the Bank’s monetary policy members voted against extending the money printing programme beyond its current level of £375 billion, the first unanimous policy decision since October 2012.

However, some members argued that they may call for more quantitative easing in later months if the state of the UK economy deteriorates.

The meeting with Carney, who took over from Sir Mervyn King as bank governor this July, also saw members vote to keep interest rates at their historic low of 0.5%, where they have remained since March 2009.