Quantitative easing (QE) is not only helping to reduce gilt yields for the Government, but it is also lowering the amount that the Government is paying out in debt interest and therefore helping to reduce the size of its deficit. This effect is not yet taken account of in the published figures on the deficit, but the Government has a sizeable windfall in store.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.