Commenting on today’s Monetary Policy Committee minutes, KPMG Chief Economist, Andrew Smith, said: “There is now nothing standing in the way of a resumption of QE at the MPC’s next meeting in July.
“Inflation continues its downward trend and is on track to return to target in the next 12 months, the domestic economy is struggling and Europe, our main export market is paralysed by political and financial uncertainty.
“With most of the Committee agreed that further economic stimulus would be warranted at some point it is difficult to see what reason there could be for further delay.”
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Notes to editors.
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.