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BoE's Fisher Says Open-Minded On More QE: Report

Saturday, 25 February 2012 | 00:00
Bank of England policymaker Paul Fisher said that he is keeping an open mind on yet another round of quantitative easing, given the ongoing economic uncertainty.
In an interview to City A.M., which was published on Friday, Fisher said "at this moment in time I would have a completely open mind going into the next round as to whether we would want to do more QE or not." The outlook for the economy is incredibly uncertain, Fisher added.
"When we did the programme in October, I always thought it was more likely we would do more than not," Fisher said, "because the risk at that time was of the economy slipping back into a severe recession,"
He added that he had never heard good reasons why the BoE should purchase assets other than gilts.
Fisher noted that the central bank expects further upward inflationary shocks from oil prices. "The last thing we need at the moment is another upward cost shock coming from oil prices," he said.
Source: RTT News
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