BoE weighs distributional effects of QE
A paper published by the Bank of England (BoE) today (August 23), examined the implications of quantitative easing (QE) for distributions of wealth, suggesting the economy would have been worse off without the actions but individual effects had differed.
"Without the loosening in monetary policy, it is likely that the economic downturn would have been far more severe," the paper said. However, QE pushed up both the prices of gilts and other assets, increasing household wealth but reducing the
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