Amid concerns the Bank of England may soon introduce "negative interest rates", the deputy governor, Charles Bean, will today convene a meeting of City economists to explain the policy of quantitative easing.
The Bank's chief economist, Spencer Dale, and the executive director for markets, Paul Fisher will also attend, the Independent writes. While the Bank regularly holds seminars on policy, this meeting is not routine, and seems to have been prompted by Bank concerns that QE suffers from misunderstandings which have undermined its credibility. Worries about QE and "negative rates" have helped push sterling down by about 10 per cent against the dollar and the euro in the past fortnight. Full story...
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