 In December 2010, MPC member Adam Posen called for a £50 billion expansion of the Bank's quantitative easing programme, while his colleague Andrew Sentance has called for an increase in interest rates due to inflation being above the target rate of 2%.In October 2011, the Bank of England announced that it would undertake another round of QE, creating an additional £75 billion.In February 2012 it announced an additional £50 billion.