BoE Minutes Reveal Split On QE Vote

The minutes of the BoE's MPC meeting are out this morning, revealing a split in the voting for the move to raise QE by GBP25 billion to GBP200 billion.

The vote was 7-1-1, with seven members of the committee in favour of the increase, one in favour of leaving QE at GBP175 billion, and one wanting an increase to GBP215 billion.

"Most members thought that purchases totaling an additional GBP 25 billion would be appropriate given the balance of risks to inflation," the minutes said.

The pound had a mini-wobble on the news, but quickly settled down again, if two members had been in favour of increasing QE then it might have been different.