Jagjit Chadha (CambridgeU) points out: Quantitive Easing, 'seems likely to lose us roughly £100bn – & dwarfs the current concern in meeting the arbitrary fiscal rules. This is because the Bank is now selling the bonds it bought at a lower price than their purchase'!

A crisis caused by bankers, for which QE was used save them while also stuffing inflation into asset markets (including housing) is now being unwound at massive cost (to us!).

I'll just leave that there!

#economics

h/t Guardian