Bank of England governor Mervyn King wanted to pump billions more pounds into the economy this month but was outvoted by his colleagues on the monetary policy committee, it emerged on Wednesday. News of the vote, only the third King has lost since becoming Bank governor in 2003, unnerved markets, sending the pound lower and gilt yields down. The normally hawkish King had wanted to increase the central bank’s “quantitative easing” programme of injecting cash into the banking system by £75bn to a total of £200bn, minutes from the MPC’s Aug 6 meeting showed.

This entry was posted by Gwen Robinson on Thursday, August 20th, 2009 at 4:52 and is filed under Capital markets, People. Tagged with bank of england, mervyn king. Edit this entry.