BoE’s Ramsden: QE Program Could Continue Until November 2021

Deputy Governor of the Bank of England (BoE) Dave Ramsden said on Wednesday that the bond-buying program is the most suitable stimulus option to help the British economy cope with the impact of the Coronavirus pandemic.

“My overall take on [Quantitative Easing] (QE) is still that it is a tried and tested tool.”

“For me, it is the marginal monetary policy tool at present.”

“For that reason, and assuming no material worsening in market functioning, I would envisage some further slowing in pace at some point in the remainder of the year.”

“It remains appropriate for policy to lean strongly against downside risks to the outlook.”

“If we continued at that pace, the program would be complete at the start of November 2021.”

“For that reason, and assuming no material worsening in market function, I would envision some further slowing in the pace at some point in the year.”