BoE's Posen: Bank Has Done With QE

The Bank of England has done all with the quantitative easing and there is no need for pumping additional money in to the economy, the bank's monetary policy committee member Adam Posen said.

"We believe growth will pick up from here," Posen said in an interview with the Sky News on Tuesday. Last week, the BoE policymakers have halted GBP 200 billion pound asset-purchase programme for a second month.

Repeating his view, Posen said an extension of the QE, depending on the nature of the problem the economy is facing at any given moment, would be the most likely outcome if additional boost becomes necessary.

He said additional measures will not be needed if inflation and economic growth follow the path the MPC has foreseen.

Dismissing fears of a sharp drop in the pound, Posen said, as an American, he is comfortable in paying pounds.

Copyright(c) 2010 News.com, Inc. All Rights Reserved

Published: 2010-03-10 14:28:00 UTC+00 1 year, 10 months, 3 weeks, 5 days, 10 hours, 38 min. ago

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