Northern Rock nationalisation Members of the Bank of England’s monetary policy committee were split three ways over the fate of quantitative easing, with only one favouring a bigger increase in the programme and one arguing it should be frozen, minutes of its last meeting revealed on Wednesday.
Seven of the nine members – including Bank governor Mervyn King, who has persistently voiced concern about the economic weakness that QE is intended to counteract – voted for a £25bn increase at the meeting two weeks ago.
