By Daniel Hunter

Minutes from the Bank of England's November meeting have shown that one member of the Monetary Policy Committee (MPC) voted in favour of further quantitative easing (QE).

More interestingly the minutes also revealed that "views differed over the exact impact" of QE.

David Miles voted to inject a further £25bn into the UK economy, over and above the £375bn already committed under the asset purchase programme. The eight other members voted not to inject more money.

"A case could be made for a further easing in monetary conditions," the minutes said, noting that output could be expanded without creating additional inflationary pressure.

"Different members placed different weights on those arguments."

The Bank has previously hinted that more QE was "more likely than not to be needed in due course".

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