MARK BARNES: Confidence is what is needed, not quantitative easing

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MARK BARNES: Confidence is what is needed, not quantitative easing 🔒

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I don’t think quantitative easing is fit for purpose. Never mind the weak correlations between money spent and grass-roots economic recovery, I’m struggling to see it as a cure for a viral epidemic.

What is its purpose? It may well have the effect of lowering interest rates, but I’m not convinced that alone will get economic growth going. Something else is required: confidence. Confidence in the real economy. Confidence of ordinary people, not financial market wizards.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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