Bank data revives doubts over QE

bank-of-england

The Bank of England's broad money aggregate and lending figures, published on Monday, reignited the debate over the effectiveness of quantitative easing.

The key measure targeted by the Bank, M4 excluding intermediate other financial companies, declined by 0.7%, or £10.3 billion ($16.9 billion). The aggregate had fallen by 5.3% on an annualised basis over the past three months, the data showed. Mervyn King, the Bank's governor, said earlier in November that the M4 growth rate should ideally be i

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