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

clock

The Bank of England's chief economist Spencer Dale has warned printing more money "might do more harm than good" and could cause harm for the future.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read
Trump's presidency and tariffs: Advice industry shares views

Trump's presidency and tariffs: Advice industry shares views

‘Stark raving mad’ but ‘great’ for US firms

Isabel Baxter
clock 18 February 2025 • 4 min read
Five-fold surge in advisers buying gilts for clients in 2024

Five-fold surge in advisers buying gilts for clients in 2024

AJ Bell finds 436% increase in gilt purchases on its Investcentre

Isabel Baxter
clock 10 February 2025 • 1 min read