Bank of England policymaker Adam Posen said that he may have been premature in withdrawing his call for more quantitative easing last month.
In an interview with news agency Market News International, he reportedly said that underlying strength of the economy is weaker. Posen said he may have underestimated the economic conditions.
Posen said he was disappointed by the impact of the latest round of asset purchases.
Posen, who had voted early this year for more asset purchases, dropped his call in April. At the April meeting, only David Miles sought an increase in the programme by GBP 25 billion.
The bank maintained the size of quantitative easing at GBP 325 billion in May after lifting it by GBP 50 billion in February.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.