Giving evidence on recent QE to the Treasury Select Committee..
- Went ahead with QE in October due to financial market volatility
- Important that CB powers are decided by parliament
- FPC should not discriminate between industry or company sectors
- QE undertaken as there we saw real risks of below target inflation
- Possible BOE could used matured Gilt proceeds bought in QE for new purchases
- Seeing a slowdown in bank de-leveraging
