MPC unanimous on £75bn QE and interest rates

The Monetary Policy Committee(MPS) voted unanimously for an additional £75bn of quantitative easing at its latest meeting.

Although the Committee minutes showed some members wanted to delay QE until November, arguments for immediate action won out. "In terms of the timing of further asset purchases, there were clear arguments for acting quickly and decisively now that the need for further monetary stimulus had become clear," read the minutes. According to the minutes, there was debate over whether developments in the euro area are set to either reduce or scale up the total amount of asset purchases. However, an initial range between £50bn and £100bn was decided. "For some members, the substantial downs...