Troy's Lyon: Are we sleepwalking towards endless QE?

Troy Trojan fund manager Sebastian Lyon has expressed fears that the Bank of England has set down a path of continuous monetisation of government debt.

Lyon noted the Monetary Policy Committee's latest round of quantitative easing, announced last month, was not accompanied by promises the process would be reversed - in contrast to comments made by members in 2009 and 2010. In any case, Lyon said, such promises would lack credibility because the Bank has not ruled out further extensions to a programme that is already £275bn in size. "Are we now sleepwalking towards further debasement and far greater levels of inflation - the cruellest tax of all?", Lyon said. "Our concern is that the Monetary Policy Committee has embraced a new pol...