A member of the Bank of England's Monetary Policy Committee, Gertjan Vlieghe, believes that the British Central Bank should carefully explain the plan for its gradual curtailment of the asset purchase program, as the US Federal Reserve did. This will allow the British regulator to curtail the program without harming the economy. The finversia.ru project cites his speech at the Imperial College of London: “Understanding of the main channels through which quantitative easing works will be very important when it is time to complete it.” Vlieghe believes that the Bank of England will have to raise interest rates 1-2 times a year if it intends to achieve a target inflation rate of 2%.
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