Monday, November 01, 2010

Easing quantitative easing

As if to prove that I am wasted in this job unemployment, as I asked the question about quantitatitatitative easing, my old chums at Prospect were preparing a long winded answer: Faisal Islam on The Great Money Mystery. It turns out that even though my basic question was, well, quite basic, other questions, vaguely similar to mine, were relatively sensible.
“It was one of the many measures to get confidence back in the system,” says former chancellor Alistair Darling, the man who had to sign off on the Bank of England experiment. “Nobody really knows what impact it’s having,” he says with shocking candour. “Look at the Bank of England [monetary policy committee] minutes, even they are split.”