FT: Bank Struggles to gauge if QE is taking effect

[Skip to the end] >    >   On Thu, Aug 20, 2009 at 4:11 AM, Marshall wrote: >    >   Maybe the BofE is having problems because it is looking at this through the wrong >   monetary paradigm. All QE is doing is switching one form of debt term structure >   for another, not actually contributing to aggregate demand. If they figured that >   out, they wouldn’t [...]