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Initial signs from QE positive - BoE's Dale
It is too soon to judge the effectiveness of the Bank of England's quantitative easing programme but early signs are positive, BoE chief economist Spencer Dale said on Tuesday. Dale noted that while gilt yields had risen after a knee-jerk fall, they were still lower than they would have been without the programme. Money supply growth had also picked up in recent months. "It is still early days in terms of judging the ultimate success of the programme in stimulating nominal spending, but initial indications remain encouraging," Dale said.
