Lords to debate Economic Affairs Committee’s quantitative easing report
Monday 15 November 2021
At 3.45pm today members of the House of Lords will debate the Economic Affairs Committee’s report ‘Quantitative easing: a dangerous addiction?’, which was published in July 2021.
The debate will be held in Grand Committee in the Moses Room and streamed on Parliament TV.
It will be opened by the Committee’s Chairman, Lord Forsyth of Drumlean. Speaking ahead of the debate, he said:
"By the end of this year the Bank of England will own an eye-watering £875bn of Government bonds and £20bn in corporate bonds.
“We raised concern in July that the ongoing round of quantitative easing could pour fuel on the fire as it coincides with a growing economy, substantial Government spending, bottlenecks in supply and a recovery in demand. Since then bottlenecks have got worse, shortages have increased, wages have risen and prices have rocketed.
“Our inquiry took evidence from a wide range of prominent monetary policy experts and practitioners from around the world. These included former central bankers from the Fed, the ECB and the Bank of Japan.”
Viscount Younger of Leckie will respond on behalf of the Government.
Read the Government’s response and the Bank of England’s response to the committee’s report.
