BoE’s Miles explores QE impact
In a speech delivered at the pro.Manchester Business Conference on March 1, David Miles, an external member of the Monetary Policy Committee, considered how asset purchases might be affecting the economy.
Miles also assessed the view that such asset purchases are causing particular harm to those saving for retirement.
Miles spoke abut the two main channels by which he believes asset purchases boost demand. He argued that: "...focusing on gilt yields risks both exaggerating and simultaneously
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