Written question asked by Bishop of St Albans (Bishops (affiliation)) on Wednesday, 18 November 2020, in the House of Lords. It was due for an answer on Wednesday, 2 December 2020. It was answered by Lord Agnew of Oulton (Conservative) on Thursday, 3 December 2020 on behalf of the Treasury.
Monetary Policy
- Question
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To ask Her Majesty's Government what assessment they have made of the effects of quantitative easing on the increase in house prices compared to increases in wages.
- Answer
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Monetary policy, including decisions on quantitative easing, is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England.
The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the effective delivery of monetary policy, so the Government does not comment on the conduct or effectiveness of monetary policy.
Detail on the impact of monetary policy, including quantitative easing, can be found in the Bank’s working paper: "The distributional impact of monetary policy easing in the UK between 2008 and 2014."
Secondary information
- Type
- Written question
- Reference
- HL10488
- Session
- 2019-21
- Related items
- Subjects
- Housing Increases Pay Prices Monetary policy
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2022-06-07 16:38:31 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2019-21/HL10488
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