BOE’s Miles downplays inflation risk from QE
- The risk of higher inflation from large scale asset purchases is often overstated.
Can’t really argue with him on that. As much as I dislike excessive use of QE as a cure-all, it has yet to generate inflation in the real economy.
Incoming BOE Governor Carney is one of the few G7 central bankers to steer clear of unconventional monetary policy during his term at the BOC’s helm.