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London, England, United Kingdom (AHN) – The Bank of England’s Monetary Policy Committee kept interest rates unchanged for the 19th straight month at the record-low rate of 0.5 percent.

At the same time, the MPC did not increase the level of quantitative easing or the printing of electronic money at the current level of $300 billion (200 billion pounds).

The MPC decision was not unanimous, but a three-way split. According to reports, MPC external member Adam Posen pushed for the expansion of the QE over concerns that the U.K. may find it difficult to rival Japan economically unless the bank’s QE policy were amended. Other MPC members wanted the QE level cut or kept at its current level.

The Bank of Japan announced this week reduction of benchmark lending rates to almost zero and the start of a QE policy, which surprised global observers. Because of Japan’s surprise move, analysts expect Britain to follow Tokyo’s decision.

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