MPC minutes reveal divisions over further QE

The Bank of England's Monetary Policy Committee is split over whether to commit to further quantitative easing, according to minutes from this month's meeting.

While the Committee voted 9-0 to keep rates on hold and asset purchases unchanged at £375bn, there were "differences of view"  regarding the need for more QE in future. A fresh round of easing is widely anticipated in November, but the minutes revealed some members have their doubts. "There were some differences of view between members about the outlook and the likelihood that further easing in policy would be required," the minutes said. "[Some members], while acknowledging that asset purchases had the scope to lower long-term yields further, questioned the magnitude of the impact...