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Markets on notice as Bailey warns Bank's QE blitz won't last forever; A shift in BOE policy will force traders to reduce their reliance on money printing, writes Tom Rees

Jun 23, 2020 - The Daily Telegraph (London)

The Bank of England will reverse its huge money printing operations before raising interest rates when the economy bounces back from Covid-19, Andrew Bailey has warned financial markets.

In a major shift in the Bank's policy, the Governor said he would look to unwind its ballooning balance sheet of bonds built up through quantitative easing (QE) before lifting rates from record lows.

The Bank has used its QE programme to fight the economic fallout of coronavirus but Bailey suggested ...