BoE chief economist says QE impact will vary, but not diminish, over time
The Bank of England's chief economist today rejected the suggestion that quantitative easing (QE) in the UK will suffer from diminishing marginal returns, but accepted that its impact will vary over time.
Spencer Dale, speaking at the Royal Economic Society's annual conference, argued there was "no economic reason" to think the effects of the BoE's asset purchases will have a weaker effect as the size of the programme grows.
Dale's comments contrast with those of Kevin Daly, Goldman Sachs' chief
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Bank Indonesia holds rates at 5.75%
Central bank faces dilemma of whether to prioritise bolstering growth or propping up currency
New Zealand continues easing cycle with 50bp cut
Trade concerns take centre stage as RBNZ delivers fourth consecutive reduction
Australia cuts rates for first time since 2020
RBA delivers long-awaited 25bp reduction but says markets are overconfident about further easing
EMs resilient to US monetary spillovers, panellists say
Turkish and Thai governors discuss policy challenges at IMF conference in Saudi Arabia
Bank of Russia holds rates
Inflation ticks up as central bank updates forecast again
China to make use of all monetary tools to boost growth
PBoC flags external volatility and renews pledge to support economy in quarterly report
Rwanda holds rates at 6.5%
Central bank expects inflation to remain within target
Philippines unexpectedly pauses easing cycle
BSP would have continued cutting if not for “uncertainty over trade policy”, governor says