Britain's economic outlook has improved since the Bank of England launched a second round of quantitative easing in October, but not by enough to point to a significant upgrade to the bank's forecasts, Bank's policymaker Adam Posen said on Monday.
Things are a little better, Posen told reporters after delivering a speech on productivity at Nottingham Trent University, citing the benefits of the Bank and European Central Bank policy action, better-than-expected growth in the United States and China, and reduced tensions in bank funding markets.
But that's not enough good news in my world to suggest we have solved the problem, though I am going through the forecast round with my colleagues.
Earlier Posen had said Bank of England policymakers would be right to consider expanding the bank's programme of quantitative easing asset purchases.
The committee is right to consider - as we will be doing in a few weeks - whether we need to do more QE, he said in a question and answer session.
Posen was a lone voice on the MPC for most of 2011, calling for more asset purchases to boost the economy, but was vindicated when the MPC backed a 75 billion pound restart in October.
These purchases will be complete at the end of this month, and most economists expect the BoE to approve a further 50 billion pounds of purchases in February.
(Reporting by David Milliken; Editing by Tim Castle)