The Bank of England (BoE) will resist any pressure to hike its asset purchasing budget further over the coming months, research has suggested.
A poll of economists conducted by Reuters today (15 March) found there is a widespread expectation among experts in the industry that the central institition will opt against the injection of more cash into this programme.
Last month, officials on the Monetary Policy Committee decided to pump another £50 billion ($78 billion) into its quantitative easing scheme, which followed on from the implementation of £75 billion last October.
Therefore, the BoE currently has a total purchasing budget of £325 billion but there had been some speculation it would decide to increase this further in May.
However, the survey of 50 economists revealed an average expectation of 0.2 per cent gross domestic product growth in the first quarter of 2012, meaning more monetary stimulus will not be required.
By Gary Cooper