BoE Decides to Keep Stimulus Off the Table, Rates Unchanged

“Bank of England Governor Mervyn King was defeated for a second month in a vote to expand stimulus as the majority of policy makers said more bond purchases may erode their credibility and push the pound lower.

The Monetary Policy Committee voted 6-3 to keep the target for buying at 375 billion pounds ($566 billion), the central bank said in minutes of its March 7 meeting, published in Londontoday. King, David Miles and Paul Fisher wanted a 25 billion- pound increase, repeating their push from February. A separate report showed unemployment rose for the first time in a year….”

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