8/12/2009

A study by the International Monetary Fund found that the Bank of England's unorthodox stimulus efforts have suppressed gilt yields by as much as 100 basis points. The IMF study is one of the first independent reviews of the central bank's policies, and its comments likely will be given serious consideration by policymakers as well as investors. Although the Bank of England expanded its quantitative-easing scheme, the IMF said it is unclear whether such moves are helping the economy.

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