Bean downplays Bank QE move

Charlie Bean, the deputy governor of the Bank of England and key interest rate setter, has poured cold water on the chances of an imminent expansion of the £375bn quantitative easing programme.

Giving a speech in Hull, Mr Bean questioned whether printing more cash right now would boost economic growth: "[Quantitative easing] may do little to boost investment spending when the environment is so dominated by uncertainty about the outlook for demand."

The Bank holds its November meeting next week.