BOE governor king is on the wires again saying the real challenge for the monetary policy committee is at what point do you start withdrawing extraordinary stimulus? QE has been a success, the governor says, (refuting doubts from his colleague Posen earlier today). There is some presumption that we will carry QE to January and decide in February, adding he can’t rule out more QE purchases. At some stage, we will have very substantial tightening to undertake, he says.