BoE’s Posen causes stir with vote switch

adam-posen2

Adam Posen, an external member of the Bank of England's Monetary Policy Committee (MPC), voted against further quantitative easing (QE) in the latest rate-setting decision, it was revealed today. His apparent change of heart after becoming a staunch supporter of further support for the economy caused a stir in the markets.

"Few would have expected Adam Posen to abandon his overly dovish stance and the market will be encouraged that he feels the UK economy is not in need of further help for now,"

To continue reading...