He said that the MPC had been right in its series of "pre-emptive" rate rises this autumn.
In a recent speech, David Miles, an external member of the MPC and academic economist, said no.
Astonishingly, the markets now seem to be betting that the MPC will not raise rates until next year.
The MPC must not give the impression that it is prepared to tolerate higher inflation in the foreseeable future.
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Headline inflation is currently at 2.2%, comfortably below the target of 2.5% the government has set for the MPC.
The minutes to the MPC's most recent meeting signalled that a further round of QE is likely, perhaps in November.
The other reason why the MPC's stance is shifting is that the economy looks as if it is now shrinking.
"The MPC is right to be looking at additional tools, or changes to existing tools, that could help, " he said.
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So, at best, members of the MPC last week knew they were looking at a bumpy few months for inflation.
Mr King was initially confronted by allegations of political bias at the MPC's quarterly inflation report conference earlier this month.
Suffice to say the governor does NOT think the Treasury move has compromised the MPC's capacity to set monetary policy.
Prior to the publication of the MPC minutes on Wednesday, Mr Bootle had a forecast a cut for the March meeting.
Mr Godden said the MPC faced a tricky decision regarding interest rates.
Mr King said the views, expressed in the MPC's quarterly inflation report in May, were shared by the majority of the committee.
Yet the MPC does not want to subject the economy to overkill.
The report provides a black eye to the hawks on the MPC given what is expected in coming months for the British economy.
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In order to change Bank rate or the amount of QE, a majority of the MPC's nine members needs to vote for it.
The minutes are likely to confirm the view of city analysts that the MPC will increase rates again early in the New Year.
"It's abundantly clear the MPC feels the stance of policy is still out of kilter with economic prospects, " said Philip Shaw at Investec.
The significance of Mr Besley's vote is that it could prove a harbinger of the MPC's stance when it next meets, in August.
The MPC said that at its meeting this month in May, "members agreed that a modest and sustained recovery in output was in prospect".
The MPC also assumed that the hangover from the financial crisis would fade slowly, bringing a gradual increase in consumer spending and business investment.
For 17-year-old Ashley Lusted from Bagillt in Flintshire, who has just got into the Army, the MPC has helped him turn his life around.
Whatever the MPC decides at this October meeting, few will welcome the fact that emergency support for the economy still seems to be required.
Dr Posen and Governor Mervyn King, as well as other members of the MPC, were giving evidence to the Treasury Committee on 25 November 2010.
Of course, when you are part of the same corporation that also makes the MPC, swinging these sort of add-ons must be a little easier.
That remains the most likely outcome of the MPC's next meeting.
In a revamped set of forecasts, the BoE's removed some of its notorious secrecy, giving the main forecasting judgments of the MPC for the first time.
Tomorrow we'll find out the Bank's new forecasts for growth and inflation, which the members of the MPC also had to guide their decision last week.
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