The Bank of England said Friday that Deputy Governor for Monetary Policy Charlie Bean will tour the U.K. for seven days to explain the central bank’s program of quantitative easing.
- Bean
The tour will begin July 13 and Bean will visit 14 towns and cities across England, Scotland and Wales, the Bank of England said. The central bank also is soliciting questions on its Web site.
The Bank said that Bean is undertaking the tour “to continue the Bank’s program of explaining the MPC’s policy of injecting money directly into the economy alongside its decisions on interest rates.”
The BOE said this tour was in addition to MPC members’ regular program of visits around the U.K.
The tour follows the BOE’s publication of a pamphlet explaining quantitative easing -why it is needed, how it is expected to work and how the MPC are monitoring its effectiveness on the U.K. economy.
The BOE Thursday announced no change to U.K. interest rates or its current bond-buying program, which currently stand at 0.5% and 125 billion pounds respectively.
Economists were surprised by the lack of indication over the central bank’s bond-buying program, but many now expect further details and an extension to the amount of bonds and other commercial papers it can purchase, to be announced when the MPC unveils its new forecast in its quarterly inflation report.
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