QE Monitor

The Bank of England completed its 375 billion-pound bond-purchase program yesterday while the Federal Reserve committed on Sept. 14 to spend an additional $40 billion a month in addition to the $2.35 trillion it has pumped in since 2008. The banks’ purchases account for about a quarter of U.K. GDP and 16 percent of U.S. GDP, respectively. The Economic Journal article suggests that may be insufficient. The BOE decides on an extension of QE next Thursday.

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