from King World News
On the heels of the move by the Bank of England to lower rates and increase QE, look at who is really getting crushed by the BoE’s move.
A portion of today’s note from Art Cashin: The BOE Makes Its Moves – The Bank of England made a series of moves this morning. I will defer to my friend, Peter Boockvar of the Lindsey Group, who as usual has a quick and typically lucid analysis. Here’s a bit of what he wrote:
Not only did the BoE cut interest rates by 25 bps as fully expected, they expanded sovereign QE by 60b to 435b from 375b pounds and they are adding a corporate bond buying program but that is modest, just 10b pounds over the next 1 1/2 years.