Broadbent defends BoE position amid pension criticism
BoE deputy says ultra-low interest rates are not main culprit behind rising pension deficits
A deputy governor from the Bank of England has defended the central bank against accusations its monetary policy stance is the main factor driving up pension deficits.
In August, the BoE cut its policy rate to 0.25% in response to the UK's decision to leave the European Union. It also increased its asset purchase programme from £375 billion ($474 billion) to £435 billion as part of a package to support the financial system.
"The decline in policy rates is a symptom not a cause of the forces
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