News Summary: Bank of England divided on stimulus

AP News
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Posted: Oct 17, 2012 11:49 AM
News Summary: Bank of England divided on stimulus

LESS STIMULATING: The likelihood that the Bank of England might approve more economic stimulus next month decreased on Wednesday as rate-setters disagreed on the program's effectiveness.

MINUTES COUNT: Minutes of the latest policy meeting show the nine members of the Monetary Policy Committee were divided on the merits of increasing the stimulus in the future.

JOBS JUMP: Signs of a pickup in the labor market may also encourage the Bank of England to postpone more stimulus — the unemployment rate in the June-August period fell to 7.9 percent, from 8.1 percent in the previous three months.