Pound Whacked After Mervyn King Admits : QE Isn't Working

Mervyn Wacks PoundThe pound is getting whacked after Mervyn King implicitly admitted that despite printing £175 billion of he might still need to cut rates or even effectively charge banks for putting cash on deposit with the central bank.

We are entering into a monetary policy twilight zone where the governor of the Bank of England, in the words of the FT, has to “entertain more outlandish concepts like negative rates”The QE disaster unfolds…




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