"I don't think that is going to sway the majority until November, but the fact that it has been discussed two meetings in a row does point to a further expansion of QE in the November meeting"
- Brian Hilliard of Societe Generale
Hopes the Bank of England will announce new economic stimulus plan above the existing program with a total value of 375 billion pounds ($610 billion) have been raised after minutes of the monetary policy committee's meeting on Wednesday. The BoE also expects the inflation rate to decelerate less rapidly, as oil and food prices rose.
"The rise in oil prices and the probable increase in utility and some food prices meant that the near-term outlook was for a less rapid fall in inflation than the Committee had thought at the time of its August Inflation Report projections," the minutes from September's meeting of the MPC.
"I don't think that is going to sway the majority until November, but the fact that it has been discussed two meetings in a row does point to a further expansion of QE in the November meeting," said Brian Hilliard of Societe Generale.
The FTSE 100 Index inched higher 0.35 per cent to 5,888.48. The broader FTSE All-Share Index increased by 0.34 per cent to 3,071.490.
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