U.K. Stocks Drop After BOE Minutes

U.K. stocks declined, erasing an earlier rally, after Bank of England minutes showed Governor Mark Carney united officials to vote unanimously in favor of holding bond purchases.

The FTSE 100 Index fell 14.25 points, or 0.2 percent, to 6,542.1 at 9:46 a.m. in London after earlier rising as much as 0.5 percent. The FTSE All-Share Index also lost 0.2 percent.

At Carney’s first meeting, the Monetary Policy Committee voted 9-0 to keep the target of its bond-purchase program at 375 billion pounds ($566 billion). All nine also voted to keep the key interest rate at a record-low 0.5 percent, according to the minutes of their July 3-4 meeting published today in London.

BOE officials Paul Fisher and David Miles had previously called for more stimulus to support growth.

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