BOE Voted 8-1 to Leave QE Unchanged as Euro Risks Receded

Bank of England policy makers voted 8-1 to leave their bond-purchase program on hold this month as immediate dangers from the euro-area crisis receded and near-term inflation risks persisted.

David Miles dissented and voted to increase the target for purchases by 25 billion pounds ($41 billion) to 400 billion pounds, according to the minutes of the Monetary Policy Committee’s Dec. 5-6 meeting, published in London today. All nine members, including Governor Mervyn King, voted to keep the benchmark interest rate at 0.5 percent, a record low.