Bank of England chief economist speaks at Cass
Andrew Haldane shared insights on quantitative easing.
Andrew Haldane, chief economist, Bank of England, gave the Cass Dean’s Lecture on Wednesday, speaking on “QE – The story so far.”
Mr Haldane’s speech reviewed the evidence on the impact quantitative easing has had on economic activity and presented new empirical analysis on the aggregate macroeconomic impact of balance sheet expansions across time and countries.
In his speech, Mr Haldane commented that the Bank of England's 435 billion-pound government bond-buying programme is likely to bring about a 300 billion-pound increase in overall spending in Britain, equivalent to three times annual public health spending.
He said the quantitative easing programme would lead to the Bank holding around a third of the stock of British government bonds by 2018.
Mr Haldane also thanked his former tutor from the University of Sheffield, Professor Alec Chrystal, Emeritus Professor of Money and Banking at Cass, for his support and guidance throughout his career.
Professor Marianne Lewis, Dean, Cass Business School, said she was delighted to welcome Mr Haldane to give the Dean’s Lecture, part of the Cass 50th anniversary program.
“Our Dean’s Lectures provide the Cass community, and beyond the opportunity to hear first-hand from high profile individuals at the very top of their professions – individuals just like Andrew. We are so pleased that he was able to join us to discuss this very important topic of quantitate easing.”
Professor Lewis said Cass had an exciting year of events planned to celebrate its 50th anniversary.
“We will mark this very special year with a programme of international and domestic events, drawing in the very best of our Cass community – our outstanding researchers and thought leaders, our valued alumni community and, of course, our students, who are at the heart of everything we do here.”
Find out more about events at Cass.