Publications
Partners
London - The Bank of England stands ready to pump more money
into the faltering economy, minutes to the BoE's September 7-8 meeting showed
on Wednesday, flagging the chance of more asset purchases as soon as October.
At the meeting, Adam Posen remained the only one to vote for
an additional £50bn in asset purchases.
But the minutes showed that most members of the monetary policy committee thought it was increasingly likely that more asset purchases
would become warranted at some point.
"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 programme at a subsequent meeting."
The minutes said that those voting for an unchanged policy in September had seen some merit in waiting to see how actions taken by overseas authorities would develop.
