MPC still split six to three

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Bank of England policymakers remained divided over their programme of quantitative easing (QE) this month.

Six members of the bank’s monetary policy committee (MPC) continued to favour the status quo at the April meeting, the minutes show, outvoting governor Sir Mervyn King and colleagues Paul Fisher and David Miles, who want to buy a further £25 billion of gilts.

That would take the total held by the Bank of England under QE to £400bn.

Members voted unanimously to hold interest rates at 0.5 per cent.