News Headline Summary
BoE's Miles says more QE warranted unless small output gap or 'pessimistic' assumption made on supply growth
- 1.5% of GDP would justify extra GBP 60bln of Gilt purchases and 3% of GDP gap points to GBP 175bln.
- Not clear that there are more effective tools for BoE other than Gilt purchases.
- "Good case" can be made for more expansionary monetary policy.
Reaction details (13:26)
- No reaction observed across classes because these comments are in line with David Mile's stance.
21 Feb 2013 - 13:15
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