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During the last Bank of England meeting there was apparently a 5-4 split on QE. The Montary Policy Meeting Minutes revealed more support for the asset purchase program. Governor Mervyn King, Posen and Miles supported a 50bn pound purchase making the total 325 bn, while Fisher supported 25.
Claimant Count increased 8.1K in May, disappointing a forecast of a 3.1K reduction. April’s reading was a 12.8K reduction, revised from 13.7K reduction.
The unemployment rate remained 8.2%.
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