By Roger E A Farmer, Senior Houblon-Norman Fellow at the Bank and Distinguished Professor, UCLA.
The views expressed are those of the author and do not represent those of the Bank or the Monetary Policy Committee.
This paper presents the text of the annual John Flemming Memorial Lecture, given at the Bank of England on 16 October 2013.
2013 John Flemming Memorial Lecture: Qualitative easing – a new tool for the stabilisation of financial markets