The Bank of England should put at least 50 billion pounds ($78 billion) into Britain’s economy, David Miles, a member of the bank’s Monetary Policy Committee, told the Financial Times.
Miles said the country needs a “more expansionary monetary policy,” adding that “exactly the right amount” can’t be known in advance, the newspaper reported.
He said he could see no reason to blame public spending cuts for the fact that the U.K. economy has performed worse than the MPC forecast, citing unexpectedly high commodity prices as being responsible, the FT reported.
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