Taking a line with which we closely identify, Guido writes Pound Whacked After Mervyn King Admits : QE Isn’t Working:
The pound is getting whacked after Mervyn King implicitly admitted that despite printing £175 billion of he might still need to cut rates or even effectively charge banks for putting cash on deposit with the central bank.
We are entering into a monetary policy twilight zone where the governor of the Bank of England, in the words of the FT, has to “entertain more outlandish concepts like negative rates”. The QE disaster unfolds…
Further reading
- Why is the FTSE going up?
- ‘Footsie pushes above 5,000’ but it will…
- Now it’s looking like V for victory o…
- What is money?
- A day of reckoning: how to end the banki…
- Gordon Brown, the Destroyer of our Economy
