Bank of England: Economy would have been worse without QE

The Bank of England has said that quantitative easing (QE) has helped the UK avoid an even worse economic battering.

It said:

Without the Bank's asset purchases, most people in the United Kingdom would have been worse off.

Economic growth would have been lower. Unemployment would have been higher. Many more companies would have gone out of business. This would have had a significant detrimental impact on savers and pensioners along with every other group in our society.

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Bank of England pensions row

Pensioners group Saga have said the Bank of England's Quantative Easing measure are "impoverishing pensioners" after the bank issued a report saying that pension schemes had benefited.