Bank of England
House of Lords
Lord Myners (Labour)
To ask Her Majesty's Government whether the Bank of England has authorisation from HM Treasury to reinvest the proceeds of maturing bonds held in the Asset Purchase Fund used to implement quantitative easing.
Lord Deighton (Conservative)
The Bank of England has authorisation from HM Treasury to reinvest the proceeds of maturing bonds held in the Asset Purchase Facility used to implement quantitative easing. The Monetary Policy Committee will decide on the appropriate size of the asset purchase programme, taking account of any maturing gilts, at each monthly meeting in the light of the medium-term outlook for inflation.