BoE’s Tenreyro urges reframing of QE

Perception that the central bank is “printing money” has been hard to shake

Silvana Tenreyro
Silvana Tenreyro
Photo: Bank of England

Bank of England policy-maker Silvana Tenreyro has urged central banks to change how they talk about quantitative easing, as the policy is widely misunderstood.

The monetary policy committee member said central banks ought to describe QE in terms of interest rates, rather than quantities of assets purchased. In remarks today (April 4), she said this could help avoid the perception that the central bank was “printing money”.

It is more accurate to think of QE as swapping one asset for another

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