UK MPC member discusses QE exit strategy

The Bank of England in London

A member of the Bank of England's Monetary Policy Committee (MPC), David Miles, on September 11 said the bank rate will be raised before the Bank of England (BoE) begins selling government bonds.

Speaking at the RBS Scottish Economics Society Annual Lecture, Miles said gauging when to tighten monetary policy is difficult, and it is likely the central bank will need to reverse course and loosen policy again during the process.

This will be an easier process if it involves variations in the

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