Quantitative ease may take up to nine months to show results, BOE deputy governor Bean says. He cautions against withdrawing stimulus to early as it could nip recovery in the bid. The bank is monitoring the situation to see whether more need be done. Things are heading in the right direction he says and in terms of exit strategies, the BOE can raise rates first and unwind asset purchases later.
The comments suggest the Bank id in no hurry to shift policy and could through more resources at the fight,. The comments should keep the pound an under-performer today.
