Treasury Select Committee

Coordinating Monetary, Fiscal and Financial Policy - A Submission to the Treasury Committee of the UK Parliament

UK monetary policy, following the 2008 recession, was effective at preventing the crisis from having a bigger effect than it otherwise might have done. As a result of experimenting with quantitative easing (an expansion in the Bank’s balance sheet) and qualitative easing (a change in the risk composition of its balance sheet) we learned some important lessons.