Bill English on quantitative easing: “There are big risks with it and it is just barmy to suggest that in an economy growing at all that you would do it”. So, are the countries that are using QE to push up our currency growing? EU: -0.3% (14 of the 27 member states are growing), US: 2.1%, Switzerland: 0.6%, Japan: 3.3%. So, yes, countries use QE while growing – and it lets their businesses undercut ours.
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