Increasing the money supply is a significant move that will prop up the economy, said Kate Barker, a member of the Bank of England's Monetary Policy Committee.

Barker said that the move would help to support Britain through a difficult period of pronounced weaknesses in the global economy and fragility in the financial markets. She also said that it was the best course in order to achieve the Bank's objective of keeping inflation close to target in the medium term.

She added that at some point