Fed's communication on tapering ‘careless and whimsical', says new BoE deputy

ben-broadbent
Ben Broadbent

Ben Broadbent, the Bank of England's (BoE) incoming deputy governor for monetary policy, has said the bank is likely to provide "disciplined" guidance on balance sheet reduction – contrasting that with the Federal Reserve's communication on QE ‘tapering', which he said was conveyed "carelessly and whimsically".

During a parliamentary hearing today, Broadbent – who has been an external member of the MPC since 2011 – said the BoE had limited experience of asset purchases and "none really of sales"

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