The Bank of England resisted pumping more cash into the struggling UK economy by the narrowest of margins earlier this month, it emerged today.
Governor Sir Mervyn King was among four members of the Bank's monetary policy committee to call for an extension of the UK's quantitative easing scheme but they were outvoted by the five other members.
The minutes of the meeting two weeks ago reinforce expectations in the City that the Bank will sanction a further £50bn of asset purchases on July 5, taking the QE programme to £375bn.
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