Bank publishes first QE quarterly

Quantitative easing by the Bank of England has succeeded in reducing gilt yields, and narrowing spreads on commercial paper and corporate bonds, but the Bank on Monday cautioned that it will take some time to determine the full effect of its purchases.

The Bank, in the first edition of its Quarterly Bulletin to chronicle quantitative easing, confirmed that yields for medium- to long-term government debt and spreads for high-grade commercial paper and corporate bonds had fallen on the back of

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