Wednesday, September 21, 2011

($MACRO) The Bank of England's Monetary Policy Committee earlier this month voted 8-1 to keep its stock of bond purchases unchanged at 200 billion pounds ($314.5 billion), with Adam Posen again casting a lone vote to increase the scope of the central bank's quantitative-easing program, according to minutes of the meeting released Wednesday. The minutes showed MPC members voted 9-0 to hold the bank's key lending rate steady at 0.5%. "For most members, the decision of whether to embark on further monetary easing at this meeting was finely balanced since the weakness and stresses of the past month had significantly strengthened the case for an immediate resumption of asset purchases," the minutes said. For some members, a continuation of the conditions seen over the past month "would probably be sufficient to justify an expansion of the asset-purchase program at a subsequent meeting," the minutes said.

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