BoE mulls post-QE balance sheet policy

Bank of England
Daniel Hinge

The Bank of England (BoE) has begun working out the likely long-term size of its balance sheet, as it looks to retain elements of its post-crisis approach to setting monetary policy.

Central banks that implemented quantitative easing (QE) in the wake of the 2008 crisis saw levels of liquidity in the financial system rise dramatically, leading commercial banks to maintain far higher levels of reserves with them.

In turn, this placed downward pressure on overnight interbank rates, forcing

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