BoE ready to restart asset buys if needed - Bean

LONDON Fri Aug 23, 2013 5:23pm BST

The Bank of England is seen in the City of London August 7, 2013. REUTERS/Toby Melville

The Bank of England is seen in the City of London August 7, 2013.

Credit: Reuters/Toby Melville

Related Topics

LONDON (Reuters) - Britain's central bank stands ready to restart asset purchases if the need arises, which is not the case at present, Bank of England deputy governor Charlie Bean said on Friday.

"We've said that we'd be willing to start repurchasing again if economic conditions dictated so. So if we saw a slowdown in the euro zone or something like that, we might feel that we need to restart purchases, but at the moment we are not," he told CNBC television.

The BoE completed its last round of gilt purchases late last year and the need for another injection of cash into the economy has faded this year as Britain has returned to growth.

Britain's gross domestic product grew 0.7 percent in the second quarter, building on a 0.3 percent increase in the first, and Bean said survey data pointed to a continuing recovery in the second half of the year.

(Reporting by Christina Fincher and Olesya Dmitracova)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.