Despite the promise to stop printing money and exacerbate inflation, the BoE just now has the printing presses humming. The damage to the currency and markets from quantitative easing that went on for years stemming from the Great Recession combined with a bond crisis and a boatload of unfunded public pension obligations somehow lead to the decision to print another round of QE in the form of 65bn pounds. Isn’t this just funding your own debt? That doesn’t usually go well. I guess we’ll see. On the positive side, the Pound Sterling is falling against the US Dollar, so it’s a good time to visit the UK. :)
guyjen2004 Premium Member over 1 year ago
Despite the promise to stop printing money and exacerbate inflation, the BoE just now has the printing presses humming. The damage to the currency and markets from quantitative easing that went on for years stemming from the Great Recession combined with a bond crisis and a boatload of unfunded public pension obligations somehow lead to the decision to print another round of QE in the form of 65bn pounds. Isn’t this just funding your own debt? That doesn’t usually go well. I guess we’ll see. On the positive side, the Pound Sterling is falling against the US Dollar, so it’s a good time to visit the UK. :)