Bank of England

Quantitative easing and the independence of the Bank of England

This paper argues that the Bank of England’s independence in monetary policy has been compromised as a result of quantitative easing (QE) and makes practical suggestions for restoring it as far as possible, by transferring the gilts that the Bank has bought to the Debt Management Office of the Treasury and thereby shrinking the Bank’s balance sheet. The paper discusses the problems that will arise when QE is unwound and suggests that they would be less intractable if the unwinding were managed by the Debt Management Office.

Treasury Select Committee Inquiry Into The Effectiveness And Impact Of Post-2008 UK Monetary Policy

This is the third in our our new Policy Paper series, written by members of the National Institute of Economic and Social Research to specifically address a public policy issue. These may be evidence submitted to a public or parliamentary enquiry or policy research commissioned by a third party organisation. In all circumstances the NIESR authors have full editorial control of these papers. We will make all policy papers available to the public  whether they have been supported by specific funding as a matter of course. Some papers may be subsequently developed into research papers.

Quantitative easing and the independence of the Bank of England

This is the first in our our new Policy Paper series, written by members of the National Institute of Economic and Social Research to specifically address a public policy issue. These may be evidence submitted to a public or parliamentary enquiry or policy research commissioned by a third party organisation. In all circumstances the NIESR authors have full editorial control of these papers. We will make all policy papers available to the public  whether they have been supported by specific funding as a matter of course. Some papers may be subsequently developed into research papers.

Friday Flyer: Dependence Day for the `The Old Lady'?

I start this new series of end-of-the-week blogposts  with a small confession. Many years ago I was at the Bank of England working in monetary analysis the day that operational independence was granted by the incoming Labour administration. 

What to expect from the Bank of England and the ECB - Russia TV 24

To what extent has the policy of the Bank of England helped to accelerate the economy? Should the Bank of England take action to try to slow inflation?
 
What impact will the ECB interest rate cut have? Should we expect further stimulus from the ECB?