Monetary Policy

Julian Jessop quoted in The Telegraph

The Bank of England (BoE) has decided not to rein in it's QE programme and has maintained the current interest rate level despite concerns over rising inflation. Commenting on the BoE's Monetary Policy Committee decision, IEA Economics Fellow, Julian Jessop was quoted in The Telegraph saying: "A prolonged period of above-target inflation would add to ... Continue reading
Commenting on the Bank of England's decision to continue its policy of quantitative easing, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs (IEA), said: "The Bank of England’s decision to maintain its existing programme of money printing means that it is keeping the foot on the accelerator despite mounting ... Continue reading

Alexander Hammond quoted in The Sun

As inflation continues to rise, Policy Analyst at the IEA, Alexander Hammond, was quoted in The Sun suggesting weekly grocery bills are expected to leap by £2.54 by Christmas. Alex argued: "The Bank of England must immediately stop its obsession with quantitative easing, and we should avoid any tax increases which would put further pressure on ... Continue reading

Julian Jessop quoted in City AM

IEA Economics Fellow, Julian Jessop, was quoted in a City AM long-read article on the effects of QE on the Bank of England's decision whether to raise interest rates as inflation continues to grow. Julian was quoted in the article saying: "The public finances are likely to be in a far better state than if ... Continue reading
Monetary Policy

Julian Jessop quoted in the Independent

Commenting on the latest ONS data on inflation, IEA Economics Fellow, Julian Jessop, was quoted in the Independent saying the Bank of England's quantitative easing (QE) programme should end sooner rather than later. He argued it is "increasingly complacent" to suggest interest rates can remain low whilst Covid support and QE continues in tandem with ... Continue reading
Monetary Policy

Mark Littlewood writes for The Times

In his bi-weekly column for The Times, IEA Director General Mark Littlewood warned that the era of low-inflation was coming to an end, referencing the 'sheer scale' of money production during the last year. Mark argued: "The entire UK quantitative easing programme has so far amounted to £872 billion, more than half of this money ... Continue reading
Monetary Policy

Christopher Snowdon quoted in The Sun

IEA Head of Lifestyle Economics Christopher Snowdon was quoted in The Sun, commenting on the latest figures which suggest a sharp rise in inflation. Christopher warned "We have all the ingredients for a bout of inflation", adding: "The only question is whether it will be short and sharp or if it will become a chronic ... Continue reading
Responding to today's inflation figures from the Office for National Statistics (ONS), Christopher Snowdon, Head of Lifestyle Economics at free market think tank the Institute of Economic Affairs, said: “While the inflation rate is still low, a sharp rise in one month is concerning and is unlikely to be a one off. As the economy ... Continue reading
Although the response of the major economies to the Covid-19 pandemic falls short of adopting Modern Monetary Theory (MMT) policies entirely, there has been a shift towards MMT principles. Since March 2020, central banks in major economies have been partially monetising government deficits by buying government debt through quantitative easing and other lending schemes. In ... Continue reading

Financial Times letter to the editor: Shadow Monetary Policy Committee

The Shadow Monetary Policy Committee has written a letter to the editor of the Financial Times, expressing their concern at the quantity of money in the UK economy- warning the Bank of England about the risks of increasing inflation. The Committee wrote: "We fear that inflation above 5 per cent is likely at some point ... Continue reading