Stani (@StaniKulechov): You think quantitative easing is bad for the economy, UK is now experiencing quantitative tightening that’s even worse. BoE sold bonds during 2008 fin…
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You think quantitative easing is bad for the economy, UK is now experiencing quantitative tightening that’s even worse. BoE sold bonds during 2008 financial crisis and Covid via hacky quantitative easing method, where BoE bought bonds issued by the government indirectly creating money supply. Now BoE is about to offload £100B of those bonds this year back to the market to reduce the money supply. This effectively increases the rates on the UK borrowing (highest now in 30 years) as markets can’t absorb everything, which in turn dries up the budget, and cuts are expected. Bad situation that can get even worse. Practically BoE controls the gov now.