BoE resists calls for QE stimulus

The Bank of England has resisted growing calls to deliver more stimulus to the economy while maintaining interest rates at the historic low of 0.5%.

As expected, the Monetary Policy Committee (MPC) left the quantitative easing (QE) programme unchanged at £200bn. The MPC is understood to have been split three ways over today's monthly decision, with Adam Posen voting for more QE and Andrew Sentance opting once again for a quarter-point rise in rates to combat inflation. Inflation has remained high, running at 3.1% in August, well above the Bank's 2% target.