Is BoE’s QE an entire waste of time? - Shaun Richards
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Shaun Richards, Founder, NotAYesMansEconomics, joins us in today’s US Open Finance Show to discuss regarding the BoE’s QE bazooka, and why it is a complete waste of time, also joined by Zak Mir, Analyst at Zak’s Traders Cafe, and Mike Ingram, Strategist at BGC Partners.
Highlights:
“Misfiring of the BOE policy this week sets a bad example. Data in the run up to June referendum suggests we were doing ok. We don’t know what is going to happen next..but BOE hurried into rate cut and QE.”
“The new QE program of GBP 70 billion.. complete waste of time.. worse than waste of time. 70 billion will be on BOE books and cause all sorts of trouble.”
“Enough evidence… QE, low exchange rates do not work.. look at France.. it isn’t booming despite weak Euro and huge amounts of French bonds bought by ECB.”