The Institute of Economic Affairs is pressuring the Bank of England's Monetary Policy Committee to extend its quantitative-easing program while keeping the interest rate at 0.5%. The British Chambers of Commerce concurred. "It is clear that quantitative easing is not yet fully effective, and we urge the MPC to step up the pace," said David Kern, the chambers' chief economist. "The size of the program should be increased without delay, well beyond £125 billion, and the proportion of corporate paper purchased by the bank should be raised."
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