BoE ‘could add more QE next month’

<p>Quantitative easing could be increased next month.</p>

The Bank of England may look to print more money through its quantitative easing programme when it meets next month.

According to Howard Archer of IHS Global Insight, the Monetary Policy Committee (MPC) might seek to extend the asset management purchasing programme next month to welcome new governor Mark Carney to the role.

Mr Carney – who is leaving the Bank of Canada to take over at the Bank of England – is replacing Sir Mervyn King, who chaired his last committee meeting this week.

It was announced by the Bank of England that the committee is holding interest rates at their record low level for the UK of 0.5 per cent for another month.

"[Mr] Carney will only have one vote out of nine in the MPC, as does [Sir Mervyn], but we suspect that he will be able to carry a majority of MPC members with him should he favour more help for the economy," said Mr Archer.

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