BoE MPC member questions efficacy of more QE
An external member of the Bank of England's (BoE) Monetary Policy Committee, Ian McCafferty, today (January 18) questioned the marginal returns of further quantitative easing (QE) in the UK.
Speaking in London, McCafferty noted that since the central bank began its asset purchase programme, three of the four main channels through which QE impacts financial markets – confidence, signalling and liquidity – have weakened.
In the real economy, monetary stimulus has less traction on households'
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