How well does Quantitative Easing stimulate economic growth, and has it increased inequality?
On Tuesday 9 February, the Economic Affairs Committee holds its second evidence session on its Quantitative Easing inquiry. The evidence session will cover the effects of Quantitative Easing, its future the Bank of England’s independence and accountability. A list of likely questions is below.
- Has the experience of Quantitiative Easing (QE) shown monetary policy to be ineffective in stimulating economic growth?
- Is there any evidence to suggest that QE is creating inflationary pressures?
- What effect has QE had on the ‘real’ economy, for instance on employment and growth?
- Has QE increased inequality?
- How do the distributional effects of the UK’s QE programme compare to other international QE programmes?
- Has the Bank of England, and the Treasury, become over-dependent on QE?
- What risks does the Bank of England need to take into consideration when it begins to unwind QE?
- How well has the Bank communicated its decisions on QE?
- To whom should the Bank of England be accountable to for its monetary policy decisions? Is it accountable?
- What implications has the use of QE had for the UK’s macroeconomic policy framework?
- Has the use of QE revealed a need to coordinate monetary and fiscal policy more closely? If so, what does this look like?