The MPC discussed increasing its programme of quantitative easing by £75 billion – the maximum allowed by the government. In the end they settled on a £50 billion extension. This was in addition to the initial £75 billion tranche announced in March. It is therefore extremely likely they will discuss using the remaining £25 billion at their next meeting next month.
The minutes also show that they were unanimous in keeping interest rates on hold at 0.5%.
