Bank of England policy maker Adam Posen made the strongest call yet for the bank to restart its asset-purchase program.
U.K. growth is so far below its potential that failure to take action could entrench a slow rate of economic expansion, Posen said in a speech yesterday in Hull, England. That threat supports the case for further stimulus by buying government debt after the central bank kept its bond-purchase program at 200 billion pounds ($316 billion) for the past 11 months, he said.
