More money should be pumped into the economy to boost recovery says member of MPC

The Bank of England should inject more money into the economy to strengthen the road to economic recovery, according to a member of the monetary policy committee. Adam Posen suggested that quantitative easing (QE) should be resumed to increase the supply of money in the UK - a strategy that has pumped £200 billion into the economy already. In a speech to the Hull and Humber Chamber of Commerce he advocated action and posited that current measures alone, such as low interest rates, would not be sufficient to promote a recovery.