Howe today gave McQuoid permission to join the League One high-fliers for 93 days, although he could be recalled at any time after the first 28.
And with Cherries facing a gruelling run of nine games in 34 days once McQuoid’s first month is up, Howe said he would have no hesitation in cutting short his stay at London Road.
McQuoid, who could be in line to feature when Posh host Walsall tomorrow, has been restricted by a knee injury to just one appearance for Cherries this season.
Howe told the Daily Echo: “Josh has gone out to get games. I couldn’t guarantee him any game-time here so this is a good chance for him to hopefully score some goals and come back to us ready to play if needed.
“He is a player we have always admired. He has everything – pace, good technique and a good touch – and we know from his first spell here that he has an eye for goal.
“He has had a stop-start season due to injury and played out wide quite a bit for us last season. It is down to the strength of our squad and competition for places that we are fortunate enough to let him go and get some games.
“If he does well during the loan period, we would certainly be looking to bring him back into the fold here and compete for a place this season. What he needs is games and we can’t give him any at the moment so are lucky to be able to send him to a club which can.”
Howe added: “I want to make it clear that he has not gone until the end of the season, although the facility is there for him to stay. The agreement is for 93 days but we could recall him after 28.
“We have so many games in March and early April and don’t know whether we might need him or not. It would have been foolish to loan him for the rest of the season with no recall.”
Howe, meanwhile, said it would be unlikely that he would entertain any further outgoing loan requests from clubs for members of his first-team squad.
McQuoid, who made 39 appearances during Cherries’ promotion campaign, is also available for the second leg of Peterborough’s Johnstone’s Paint Trophy area final against Swindon on Monday. The first leg at London Road finished in a 2-2 draw.