Fran Boait, Executive Director of Positive Money, commented on the Bank of England's latest announcement that it will cut interest rates and restart its quantitative easing programme. She said,
Archive for August 4, 2016
The Bank of England (BoE) has just announced its new monetary stimulus package. By lowering interest rates and expanding quantitative easing, the stimulus will exacerbate inequality and encourage an already highly-indebted household sector to borrow even more. The new government has pledged to build an economy that works for everyone and has made a strong commitment to tackling inequality. If it’s serious, it should support fairer and more sustainable monetary policy measures than those announced today.