The Bank of England minutes for the policy meeting held on 8 and 9 February unexpectedly showed a split among members in February over the Asset Purchase Facility as two members unexpectedly called for a bigger increase in purchases on the risk that CPI inflation will materially fall below target.

The vote on the interest rate was undoubtedly unanimous as the nine members opted to leave rates steady at the historic 0.5% low, nevertheless on the Asset Purchases Facility the vote was more dovish as two members diverted from the majority where David Miles and Adam Posen voted against the preposition favoring 75 billion pounds increase in the APF rather than the majority that favored 50 billion pounds increase to 325 billion pounds.