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Bank of England addicted to bond-buying - UK lawmaker panel chair

Reuters 3 minute read The Bank of England and Royal Exchange are reflected in a puddle as a pedestrian walks past, amid the coronavirus disease (COVID-19) outbreak in London, Britain, November 19, 2020. REUTERS/Simon Dawson/File Photo LONDON, July 16 (Reuters) - The Bank of England is addicted to the nearly 900 billion-pound ($1.25 trillion) bond-buying programme which it has used to steer Britain s economy through the crises of the past decade, the chair of a parliamentary committee said. The BoE must spell out more clearly why it is not reining in its huge stimulus in the face of rising inflation, the Economic Affairs Committee in the House of Lords, parliament s unelected upper house, said in a report published on Friday.

The Bank of England urges a plan to curb inflation - JusticeNewsFlash com

The Bank of England urges a plan to curb inflation According to an influential parliamentary committee, the Bank of England needs to provide better reasons to prove that the rise in inflation is temporary. The committee also questioned whether quantitative easing needs to continue. The House of Lords Economic Affairs Committee, including former Bank of England Governor Mervyn King, said on Friday that the Bank of England failed to justify its flagship quantitative easing policy the central bank tried to stimulate spending by creating money and injecting it into the economy The approach is through the purchase of assets. Lord Michael Forsyth of Drumlean and Chairman of the Economic Affairs Committee stated that the bank “has been obsessed with” quantitative easing, using it as “the answer to all the country’s economic problems”, and despite its “dazzling,” it has hardly faced any problem. “Size.

Your morning briefing: What you should know for Friday, July 16

Your morning briefing: What you should know for Friday, July 16 Sean Morrison Chris Whitty urges Covid-19 caution as UK ‘not out of the woods’ The Government’s top medic said the UK is “not out of the woods yet”, just hours after Boris Johnson declared it was “highly probable” the worst of the pandemic is over. The latest figures showed 48,553 more cases, the highest since January 15, while the 63 deaths were the biggest daily reported increase since March 26. Fresh doubts cast over Covid origin as WHO admits errors in report A spokesperson for the organisation said mistakes in the joint report with China were due to “editing errors.”

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