BoE's Bailey sees question about what to do with QE after crisis

FILE PHOTO: Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London, Britain March 16, 2020. Tolga Akmen/Pool via REUTERS/File Photo

LONDON (Reuters) - Bank of England Governor Andrew Bailey said the BoE was right to ramp up its quantitative easing bond-buying at the onset of the coronavirus crisis and there was a “legitimate question” about what to do with the programme when things get back to normal.

Bailey, speaking on a webinar organised by the central bank, said the BoE’s balance sheet was now equivalent to about 30% of British economic output, up about 10 percentage points since before the crisis.

Writing by William Schomberg; editing by Jason Neely