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.
by RTT Staff Writer
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