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Podcast: Beyond Currency
Episode: 27 April 2022 - Hike may lead to Bank sell bonds
Description: Bank of England Governor Andrew Bailey, when questioned about when the Bank would begin to wind down its support for the economy by divesting itself of Government Bonds that were purchased in order to add liquidity to the market during the Pandemic, answered that he imagined it would start when interest rates reached 1%.
Bailey has developed a habit of answering questions about long-term issues without giving them due consideration, and often pre-empting the opinions of his colleagues on the MPC.
While the opinion of the Governor carries significant weight, the Monetary Policy Committee comprises nine individuals and each vote carries...