The Bank of England voted 6-3 against more quantitative easing this month, saying a further round of purchases could cause an "unwarranted depreciation in sterling".
Outgoing Bank of England(BoE) governor Sir Mervyn King said last night the pound is now "properly valued" in a move to halt its slide.
Economists are speculating the outgoing Governor of the Bank of England, Mervyn King, will greenlight one more round of quantitative easing before he steps down in June.
Sterling has jumped against the dollar, reversing this morning's losses, after the Bank of England's Monetary Policy Committee (MPC) voted to keep its quantitative easing programme unchanged at £375bn.
Sir Mervyn King, the outgoing Governor of the Bank of England, has written to a small business owner to offer his sympathies after the man's own bank refused him a loan.
The pound has moved towards a year low today against the dollar, its recent weakness having been exacerbated by the revelation BoE governor Sir Mervyn King voted for further stimulus this month.
Sir Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.
Société Générale strategist and permabear Albert Edwards has launched a scathing attack on central bankers, warning incoming BoE governor Mark Carney could follow in the footsteps of Alan Greenspan to be a "ruinous" bank leader.
The Monetary Policy Committee (MPC) voted unanimously to hold the bank rate at 0.5% at the last meeting, while all but one member voted to maintain the QE programme at £375bn.
Fund managers and strategists have begun reducing exposure to sterling, amid fears rising inflation and the threat of a UK downgrade could derail the pound.