Bank of England ‘addicted’ to creating money, say peers

BoE must be more transparent and justify use of quantitative easing, says Lords report

The Bank of England risks becoming addicted to creating money and needs to come clean about how it plans to unwind its 895bn bond-buying programme, the House of Lords has warned.

A report from a Lords committee - the members of which include the former Threadneedle Street governor Mervyn King - said there was a threat of quantitative easing (QE) leading to higher inflation and causing damage to the government's finances.