Posen calls on BoE to go beyond gilt purchases

Adam Posen, an external member of the Bank of England's (BoE) Monetary Policy Committee (MPC) today (June 11) said it was time for "major" central banks, including the BoE, to "engage in purchases of assets other than government bonds".

"Those central banks should also aggressively lend against a wide range of banking system assets, appropriately discounted," he added.

Posen said short-term emergency interventions of this type where central banks had purchased high-quality assets had seemingly b