BoE minutes: MPC members unanimous on rate, split on APF

The Bank of England has released the minutes of the final policy meeting for Governor Mervyn King, held on June 5 and 6 where the Monetary Policy Committee maintained the size of quantitative easing at 375 billion pound and the key interest rate at a record low 0.50 percent.

The BoE minutes showed MPC members voted unanimously in favor of keeping interest rate at its record low of 0.50 percent, yet they shared "some differences of view" regarding the stock assets purchases.

Charles Bean, Paul Tucker, Ben Broadbent, Spencer Dale, Ian McCafferty and Martin Weale voted in favor of keeping the APF steady at 375 billion pounds.

While King and Paul Fisher joined David Miles, the dovish member of the MPC, proposition against keeping APF steady at record high, where they preferred increasing the size of quantitative easing by another 25 billion pounds to a total of 400 billion pounds.