Winding and unwinding extraordinary monetary policy - speech by David Miles

In a speech delivered at the RBS Scottish Economics Society Annual Lecture, David Miles – External Member of the Monetary Policy Committee (MPC) – describes the exceptional ways that monetary policy has been set to help the economy to recover from the financial crisis.
Published on 11 September 2012

He considers what the lessons from this extraordinary period are for the design of policy. He assesses whether asset purchases have stopped having an impact and whether other more radical policies need to be pursued. He also considers how, in due course, the transition back to a more normal monetary policy might be made.

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