There’ll be some ruffled feathers at the Bank of England this morning following the publication of a rather damning report by the House of Lords’ economic affairs committee. From the FT’s economics reporter Valentina Romei: After an in-depth inquiry into QE — the practice by which the central bank attempts to stimulate spending by creating money and pumping it into the economy by purchasing assets — the House of Lords economic affairs committee said the BoE had not provided sufficient justification for its flagship policy.The committee’s report will sting inside Threadneedle Street, since one of the authors is former BoE governor Mervyn King and another is Nicholas Stern, former chief economic adviser to the Treasury and chief economist of the World Bank.Yes, you read
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There’ll be some ruffled feathers at the Bank of England this morning...