Osborne: Rich richer because of monetary policy

Osborne: Rich richer because of monetary policy
 

The rich have become richer because of the UK's policies of low interest rates and quantitative easing, former Chancellor George Osborne has said.
Talking to Bloomberg TV, he said that UK monetary policy had made "life difficult for ordinary savers".
The policies were brought in after the banking crisis of 2008 and the subsequent recession.
He said the policies had been "very necessary" to keep the economy strong, but their impact had to be mitigated.
"We need to offset the very necessary loose monetary policy, and the distributional consequences that is having.... read more

 
27 September 2016 in Business, Views: 48
Source: BBC
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