Global debt has more than doubled in the last 15 years; and according to the International Monetary Fund (IMF), it’s the highest it’s ever been.
In response to Mark Carney’s remarks at a news conference in Nottingham, in which he said that the Bank would be prepared to tolerate a rise in inflation above 2%, Executive Director of Positive Money, Fran Boait said:
"Theresa May knows monetary policy isn’t working. QE is increasing inequality, and low interest rates aren’t the solution", writes Fran Boait in the Guardian, 12th October 2016.
27th September 2016 marked the launch of the Bank of England’s new Corporate Quantitative Easing (QE) programme. The Bank will now be creating £10bn of new money to buy bonds issued by private companies. While there are much better ways to boost the UK economy, today we give 10 reasons why Corporate QE won’t help boost the UK economy and could turn out to be a bad idea.