An Architect of QE Says BOE Shouldn’t Use the Tool Frequently
- Charlie Bean says asset purchases help fan inequality
- Former Governor Mervyn King also has criticized program
Charlie Bean
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
One of the architects of the Bank of England’s economic stimulus program said the tool should be used infrequently because of its “less than ideal” performance.
Charlie Bean, the deputy governor for monetary policy when quantitative easing started in 2009, said the policy adds to inequalities and “should be a less significant part of the landscape.”