Following the Bank of England’s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895 billion, respectively, BoE Governor Andrew Bailey is delivering his remarks on the policy outlook.
Key quotes
“We have not yet completed our review into the sequencing of policy tightening.”
“We have not reached any conclusion on reducing the stock of QE.”
“The world has changed hugely since 2018 when BoE last looked at this.”
“Today’s reduction of gilt purchases is not a tapering decision.”
About Andrew Bailey (via bankofengland.co.uk)
“Andrew Bailey previously held the role of Deputy Governor, Prudential Regulation and CEO of the PRA from 1 April 2013. While retaining his role as Executive Director of the Bank, Andrew joined the Financial Services Authority in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies. In July 2012, Andrew became Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. Andrew was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.”
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