BoE’s Ramsden: We can step up pace of QE if needed

The Bank of England can step up the pace of quantitative easing (QE) if needed, BOE Deputy Governor Dave Ramsden told parliament while delivering the BoE’s annual report on Wednesday, as reported by Reuters. 

“We have headroom to do materially more QE,” Ramsden added. “We could do it fast if market dysfunction required it.”

Commenting on the potential impact of Brexit on the economy, “all the analysis suggests the impact of changes to trading arrangements come through in the long term,” Ramsden noted.

Market reaction

These comments seem to be further weighing on the British pound. As of writing, the GBP/USD pair was down 0.66% on the day at 1.3292.