IMF agrees BoE should raise rates before tapering QE

Bank of England

The Bank of England (BoE) should raise interest rates before it stops reinvesting in assets acquired as part of its quantitative easing programme, the International Monetary Fund (IMF) said today at the conclusion of its UK Article IV consultation.

"When the time comes to begin normalising monetary conditions, raising the policy rate first is preferable to selling off assets," the Fund argued. It added that cutting rates would likely be less disruptive than repurchasing government bonds should t

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