Has Bank of England scored an own goal with QE?
Press Release about Cebr research which shows that QE has caused over 50s to cut spending and may have pushed UK economy into recession.
Press Release about Cebr research which shows that QE has caused over 50s to cut spending and may have pushed UK economy into recession.
Ros published a response to Bank of England conclusions that its policies have not damaged the economy or pensions and that it may have underestimated the negative effects of monetary policy measures.
Telegraph published Ros’ comments on how to try and relieve the impact of QE on your retirement income.
Ros published a response to Bank of England conclusions that its policies have not damaged the economy or pensions.
Ros comments on the Bank of England’s research into the distributional impacts of Quantitative Easing and low interest rates.
Ros explains the damage being done to UK final salary pension schemes as deficits mount and gilt prices rise, forcing schemes to face a ‘death spiral’.
Ros responds to calls for pensioner benefits to be means-tested, pointing out that this could require means-testing six million pensioners, it would risk undermining savings incentives, as well as failing many of the poorest pensioners who need the money but don’t claim.
Ros warns that the Bank of Englands announcement of a further £50bn gilt-buying with a third round of QE will not produce growth, it will help the banks, but not the economy. The Bank seems to be ignoring the evidence that QE is damaging important areas of the economy.
Ros comments on a paper from the Institute for Fiscal Studies which shows that older generations are better off than those in their 20s and 30s, suggesting that this is something to be concerned about! Surely this is the normal way of things, young people should aspire to be better off when they reach the end of their working life, that’s a success!
Ros responds to an interview in which David Miles of the Bank of England calls for further QE to stimulate the economy. She points out that this would be dangerous, that gilt yields are already distorted and that QE is continuing to damage growth and pensions.