BoE's Dale: QE must not become long-term crutch

Dale, who was speaking at Trinity College in Dublin at the weekend, said injecting additional monetary stimulus when observing weak output might not be the right thing to do. "We don't fully understand the structure of the economy or the behaviour of households and companies within it. Not even close. And we don't know the nature of the shocks affecting the economy, even long after they have occurred," he said. "Monetary policymakers face substantial uncertainty. That is not defeatist or wimpy; it is a fact of life. And it needs to be borne in mind when deciding how ambitious we shoul...