BoE MPC member questions efficacy of more QE

bank-of-england-head-on

An external member of the Bank of England's (BoE) Monetary Policy Committee, Ian McCafferty, today (January 18) questioned the marginal returns of further quantitative easing (QE) in the UK.

Speaking in London, McCafferty noted that since the central bank began its asset purchase programme, three of the four main channels through which QE impacts financial markets – confidence, signalling and liquidity – have weakened.

In the real economy, monetary stimulus has less traction on households'

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: