Commenting on today’s MPC decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
"We disagree with the decision not to use the final £25 billion allotted to the asset purchase programme. Quantitative easing is not yet fully effective and there is a strong case for raising the proportion of private sector assets that the MPC purchases.
“It is important to significantly increase the programme’s size, so as to underpin business confidence. We urge the Chancellor to increase the ceiling for the programme by a further £50 billion, to £200 billion.”