In this paper, George Trefgarne shows that, while quantitative easing has been a success in the short term, it contains many risks: it has already added £14 billion to the National Debt and could be even more expensive in the future; it could undermine the pound; it is having a serious impact on pension deficits and annuities.
Media Impact:
- The Times: Bank split three ways over quantitative easing
- The Daily Telegraph: The one thing worse than quantitative easing would be no QE at all
