Bank of England deputy governor for financial stability Sarah Breeden has argued the bank's quantitative tightening programme has not had an impact on financial stability.
Speaking at a Treasury Select Committee hearing yesterday (10 January), Breeden confirmed the central bank will be selling £100bn worth of gilts this year. Former MPC member claims BoE will not be able to cut interest rates in 2024 - reports Although she said the QT programme might have an impact on markets, as the sale of gilts could affect yields, Breeden argued this was a "relatively small" impact as the bank rate is the "main tool" used by the BoE to ensure the right monetary conditions exist in the economy. She noted market functioning is taken into account by the monetary pol...
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