Bank of England Governor Mervyn King was defeated for a fourth month in his bid to expand stimulus as the majority of officials cautioned against the danger of stoking inflation expectations.
Six members of the Monetary Policy Committee voted to keep quantitative easing at 375 billion pounds ($568 billion) this month, the central bank said in the minutes of its May 8-9 meeting, published in London today. King, David Miles and Paul Fisher maintained their campaign to increase stimulus by 25 billion pounds.
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