“The Bank of England is relying on the same failed policies that we’ve seen in the last seven years – low interest rates and quantitative easing – which can only work by encouraging more private sector borrowing. But given that businesses and households are expected to cut spending due to the economic uncertainty, it’s quite unlikely that they are going to borrow and get into even more debt.”

Nick Ferrari discussed the recent decision of the Bank of England to lower interest rates and restart its quantitative easing programme with Fran Boait, director of Positive Money on his LBC radio show on 5th August 2016.

LISTEN HERE (3 min)