Quantitative Easing Fails To Get Banks To Lend

Analysis from FT Alphaville.  Here are the main ideas:

The Deputy Governor's remarks on 'quantitative easing' (QE) suggest the Bank of England has abandoned any hopes it might have had that its asset purchases would lead to a revival in bank lending.

Today's FT also notes that the Bank of England is considering a move already taken by Sweden's Riksbank, of introducing negative interest rates on balanced banks hold with the central bank, to induce banks to finally lay out cash to borrowers (which has been liberally financed by the taxpayer, of course...)