King votes for more QE for first time since July

Sir Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.

The meeting, held on 6 and 7 February, saw the Bank of England keep QE on hold at £375bn - but minutes revealed a 6-3 split among committee members. King and Paul Fisher joined David Miles in voting for an extra £25bn of QE in February. Miles has called for more asset purchases since last November. Sterling slumped on the news, dropping by more than a cent against the dollar to fall below $1.53 for the first time since June 2012. The pound also fell to a 15-month low against the euro, hitting 87.65p per euro. The MPC suggested the precipitous decline in sterling seen since the s...