Comments by BOE policymaker, Ben Broadbent
- Monetary policy committee is prepared to do what's necessary
- Keeping all policy tools under review
- There is a risk that too low rates does more harm than good
- Purpose of QE is to meet our inflation target
- QE is not about financing the government
Just take note that the mention of the committee being 'prepared to do what's necessary' relates to a question on the possibility of negative rates. So, essentially they are not ruling that out from their policy toolkit at the moment.
In any case, the BOE did note that QE will run its course at around July so there is an increased likelihood of them adding to that at the June meeting. And the remark by Broadbent is a bit of a giveaway there since inflation will stay subdued during the virus crisis.
