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Formal meeting (oral evidence session): Quantitative Easing

Economic Affairs Committee
Quantitative Easing

Tuesday 2 March 2021

Start times: 3.00pm (private) 3.00pm (public)


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How does the Bank of England’s 2020 expansion of Quantitative Easing differ from earlier phases?

On Tuesday 2 March, the Economic Affairs Committee holds its fourth set of evidence sessions on its Quantitative Easing (QE) inquiry. In the first panel, the Committee will hear from specialists on the macro-economic framework of QE, the Bank of England’s QE programme and the effects and future of QE. In the second panel, Alistair Darling, former Chancellor of the Exchequer between 2007-2010, will give the Committee his perspective on QE.

Meeting details

At 3.00pm: Oral evidence
Inquiry Quantitative Easing
Portfolio Manager and Chief Macro Strategist in the Multi-Asset Strategies group at BlackRock
President of Queens' College Cambridge and Chief Economic Adviser at Allianz
At 4.00pm: Oral evidence
Inquiry Quantitative Easing
former Chancellor of the Exchequer (2007-2010)

Likely questions

  • Are monetary policy decisions in danger of being directed by the needs of the Treasury?
  • In what ways does the Bank of England’s 2020 Quantitative Easing (QE) expansion differ from earlier phases?
  • In what ways does the Bank of England’s QE programme differ from QE implemented by other central banks?
  • What are the likely consequences, intended or otherwise, of loose monetary policy coinciding with large-scale fiscal stimulus?
  • Why was QE seen as the best bet for staving off financial collapse in 2009?
  • Did the Government ever expect QE to stimulate employment and growth, or was it primarily seen to be a temporary measure aimed at financial stability?
  • Do accusations that the Bank is practicing deficit financing risk discrediting QE?
  • Has the expansion of QE during the pandemic brought into question the principle of operational independence that the New Labour Government introduced in 1998?
  • Is the Bank sufficiently accountable for its QE programme?
  • What course of action should the Bank take going forwards with its QE programme?

 

Location

Virtual meeting