The Bank of England should resume its quantitative easing (QE) programme to secure the economic recovery, according to a monetary policy committee member.

External member Adam Posen has stated that the Bank should pump more money into the economy through QE to ensure the economy continues to grow. Over £200bn has already been injected into the economy through QE.

"Policymakers face a clear and sustained uphill battle, in which monetary ease has an ongoing role to play. The risks that I believe we face now are ones of sustained low growth turning into a self-fulfilling prophecy," said Mr Posen.

"Inaction by central banks could ratify decisions both by businesses to lastingly shrink the economy's productive capacity, and by investors to avoid risk and prefer cash."