LONDON, March 8 (Reuters) - Measures taken to boost the money supply should lift Britain out of recession more quickly but the Bank of England has scope to take more action if needed, BoE Deputy Governor Charles Bean said. "We have the scope to do more if that proves necessary. Bean wrote in an editorial in Monday's Daily Mail newspaper. "But equally, when the time comes, we will be able to change course to prevent inflation taking off."
Britain's central bank pledged last week to buy assets, mainly government bonds, with 75 billion pounds of newly-created money, writing a new chapter in the country's monetary history.
Bean said there was a good deal of uncertainty regarding the precise impact of the initiative and policymakers would pay close attention to lending and spending figures.
"We will be monitoring the situation closely to see how the quantity of money and credit in the economy and, most importantly, the amount of spending is affected," he said.
(Reporting by Christina Fincher)