LONDON (Reuters) – Bank of England Governor Andrew Bailey said the BoE was right to ramp up its quantitative easing bond-buying at the onset of the coronavirus crisis and there was a “legitimate question” about what to do with the programme when things get back to normal.
Bailey, speaking on a webinar organised by the central bank, said the BoE’s balance sheet was now equivalent to about 30% of British economic output, up about 10 percentage points since before the crisis.
(Writing by William Schomberg; editing by Jason Neely)
