Bank of England Chief Economist Suggests Pandemic QE a Mistake

Bank of England Chief Economist Huw Pill suggested that officials made a mistake in continuing their stimulus program through the pandemic, saying the money-printing has contributed to rocketing inflation.

Answering questions from lawmakers in the House of Lords, Pill said the decisions taken might have been different “with the benefit of hindsight.” Inflation is 10.1%, five times the BOE’s target rate.