Posen reveals Bank MPC at odds over fiscal policy

Front of the Bank of England in London

Adam Posen, an external member of the Bank of England's Monetary Policy Committee (MPC), on Thursday confirmed there had been concern from members of the committee, including himself, that the Bank's stance on Britain's fiscal retrenchment was "excessively political".

"There was a difference in opinion over the paragraph in the May Inflation Report covering the fiscal retrenchment," Posen told the Treasury Committee, a group of lawmakers. "A number of people on the committee, more than just me a

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