BoE split over stimulus measures
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Bank of England's Sir Mervyn King outvoted on QE move
Bank of England governor Sir Mervyn King backed more action to boost the economy earlier this month, but was outvoted by his colleagues on the Monetary Policy Committee (MPC).
Minutes of the MPC's meeting show it voted 6-3 against expanding the quantitative easing (QE) programme from its current level of £375bn.
However, markets saw the vote as increasing the chance of more QE later.
The pound fell sharply after the release of the minutes.
Against the dollar, the pound was down 0.9% at $1.5284, while sterling dropped 0.6% against the euro to 1.1450 euros.
The minutes were released as new figures from the Office for National Statistics showed the UK unemployment total fell by 14,000 between October and December to 2.5 million.
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