BOE’s King: No Decision On QE Before November MPC Meeting

–Notes He Has Been In MPC Minority Three Times Before

LONDON – Bank of England Governor Mervyn King has told the
Wolverhampton Express and Star that the Monetary Policy Committee will
take no decision on further QE until the committee’s November
meeting.

During his visit to the West Midlands, King said meetings with
business people would help the bank decide on its next monetary policy
step “but we won’t make our decision until the day of the next
meeting.”

King also moved to dismiss any suggestions of personal power in his
role, pointing out that all interest rate decisions are the result of a
vote of the Bank’s nine-member Monetary Police Committee.

“I’ve been in the minority on three occasions,” he said.

The comment followed his keynote speech to a midlands business
audience last night, which was widely viewed as highly dovish
and as hinting at the possibility of further asset purchases by the BOE.

-London newsroom: 4420 7862 7491; email: wwilkes@marketnews.com

[TOPICS: M$B$$$,M$$BE$,MSSFX$]