Bank of England Minutes

The Pound continues to trade either side of 1.14 against the Euro and around 1.57 against the US Dollar following the release of this morning’s Bank of England minutes.

The minutes showed that the Monetary Policy Committee (MPC) voted unanimously in favour of increasing its current Quantitative Easing Asset Purchase Programme by a further £75bn to £275bn.

The minutes revealed that the MPC considered extending Quantitative Easing between £50bn-£100bn.

The Bank of England’s next monetary policy decision is due on the 10th November. Despite the latest inflation data hitting 5.2%, 3.2% over the Bank’s 2% target. The Bank remains committed to its view that inflation should have peaked and will begin to fall back rapidly in 2012.