(C) Reuters. FILE PHOTO: Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London
LONDON (Reuters) – Bank of England Governor Andrew Bailey said the BoE was right to ramp up its quantitative easing bond-buying at the onset of the coronavirus crisis and there was a “legitimate question” about what to do with the programme when things get back to normal.
Bailey, speaking on a webinar organised by the central bank, said the BoE’s balance sheet was now equivalent to about 30% of British economic output, up about 10 percentage points since before the crisis.
BoE’s Bailey sees question about what to do with QE after crisis
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