The call for additional stimulus by Bank of England chief Mervyn King was overturned by other policymakers for the fourth consecutive month, minutes showed Wednesday.
As seen in previous months, King, Paul Fisher and David Miles sought an increase in quantitative easing by GBP 25 billion to GBP 400 billion.
But most members said the effects of the previous round of asset purchases were still coming through and, together with the extended Funding for Lending Scheme, should continue to boost activity.
The nine-member Monetary Policy Committee unanimously decided to maintain the record low 0.50 percent interest rate.
The MPC assessed inflation to rise a little further in the short run and remain above the 2 percent target for a further two years.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.