Bank of England 'finely balanced' over stimulus - BusinessWeek

LONDON

The minutes to the last policy meeting at the Bank of England show that only one of the nine members of the rate-setting committee voted for more economic stimulus.

However, the minutes, published Wednesday, show that several members thought the decision was finely balanced.

For the second month running, David Miles was the only member voting to expand the 325 billion pounds ($510 billion) program of asset purchases, known as quantitative easing.

The U.K. economy has fallen back into recession, and on Tuesday the International Monetary Fund said Britain should consider additional stimulus measures.

All nine members voted to keep the Bank's base rate at the all-time low of 0.5 percent.