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Formal meeting (oral evidence session): Quantitative Easing

Economic Affairs Committee
Quantitative Easing

Tuesday 2 February 2021

Start times: 3.15pm (private) 3.15pm (public)

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Lords Committee hears evidence on Quantitative Easing from economics commentators and Sir Paul Tucker

The Economic Affairs Committee holds its first evidence session on its Quantitative Easing inquiry with economics commentators and Sir Paul Tucker, Research Fellow at Harvard Kennedy School and former Deputy Governor of the Bank of England.


Meeting details

At 3.15pm: Oral evidence
Inquiry Quantitative Easing
Economics Editor at Financial Times
Professor of Economics and Macro-Finance at UWE Bristol
Economics Editor at The Times
At 4.15pm: Oral evidence
Inquiry Quantitative Easing
Research Fellow at Harvard Kennedy School

Likely questions

  • Has the expansion of Quantitative Easing during the COVID-19 pandemic undermined the Bank of England’s independence? What are the implications of this?
  • Has the Bank of England been sufficiently transparent in its decision-making process during each phase of the Quantitative Easing programme?
  • Is Quantitative Easing still an effective monetary policy tool, or has it reached its limits?  
  • Will Quantitative Easing be unwound in full, or is it likely that the Bank of England’s balance sheet will be permanently, and structurally, larger going forwards?
  • What have the main distributional effects of the Quantitative Easing programme been?
  • Is there any evidence to suggest that Quantitative Easing has resulted in investment moving into more speculative assets?
  • How should we define the Bank of England’s Quantitative Easing programme?
  • Did the Bank consider any alternative options to Quantitative Easing in 2009? Why was Quantitative Easing considered to be the most effective policy instrument?
  • How should Parliament, and the public, expect the Bank to communicate its decision-making process for Quantitative Easing?
  • What other options does the Bank have if Quantitative Easing proves to be ineffective going forwards? 
  • Should the Bank of England’s mandate be altered in any way, and what would the options be?


Virtual meeting