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

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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