Back in June, we were pretty much alone in forecasting that the MPC would expand quantitative easing (QE) by £100bn at its meeting on 5th November. That call looks on track, and most other forecasters have now come round to our view. But we think that the consensus is still underestimating how much more QE the MPC will announce in 2021. We expect the Bank to expand QE by a further £150bn by the end of 2021.
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