MPC's Miles says Bank still has QE firepower

The Bank of England still has the 'firepower' to boost the economy through another round of quantitative easing (QE), policymaker David Miles had said.

The Telegraph reports Miles said: "We may need more stimulus. That will depend on how the headwinds holding back growth play out." Miles (pictured) added it is likely there would shortly be some positive impact from the BoE's Funding for Lending scheme, put in place to make loans cheaper and more plentiful. However, he added: “If it turns out that not enough has been done, that the economy is going to stay in a recessionary state and that is going to drive inflation down, there is more we can do. We have not run out of ammunition.” Miles, who has been a strong supporter of QE, said...