Theresa May spoke out against QE at the Conservative Party conference, saying it has had “some bad effects” on the financial markets by helping people with assets get richer.
The government will shift its focus away from quantitative easing in this year’s Autumn Statement, according to reports.
Theresa May spoke out against QE at the Conservative Party conference, saying it has had “some bad effects” on the financial markets by helping people with assets get richer.
She will reportedly focus on taxation and spending instead.
The Bank of England has pumped money into the economy since 2008 through its QE programme.
May said: “While monetary policy – with super-low interest rates and quantitative easing – provided the necessary emergency medicine after the financial crash, we have to acknowledge there have been some bad side effects.
“People with assets have got richer.People without them have suffered.People with mortgages have found their debts cheaper.People with savings have found themselves poorer.”
