28.09.201010:14:00UTC+00Uk Should Undertake Further Monetary Easing - Boe's Posen
News:
Bank of England should undertake furhter monetary easing to avoid the same slump that took in Japan in 1990
Money stimulus can be undertaken by buying additional QE gilt
Further fiscal stimulus and corporate debt purchases can be undertaken if QE fails
CPI is expected to fall below target
BoE is expected to leave the policy unchanged for the next year - analysts
Quote:
"The case I wish to make is that monetary policy should continue to be aggressive about promoting recovery, and subject to further debate, I think further easing should be undertaken," Posen said, according to the text of a speech to be given in Hull, northern England.
Background:
MPC had kept the interest rate at 0.5pct and QE at 200bn pounds