LONDON: Bank of England (BoE) governor Andrew Bailey said the central bank should start to reverse its quantitative easing asset purchases before raising interest rates on a sustained basis, a reversal of long-standing BoE policy.
The BoE increased its bond purchase target to £745bil (US$922bil) last week, and in March it cut its main interest rate to a record low 0.1%. But Bailey said this level of central bank asset purchases “shouldn’t always be taken for granted”.
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