Richard Woolnough adds to last week's thoughts from a colleague that the BoE could just cancel the gilts it holds to improve the U.K.'s finances. What the 2 are describing is the alchemy of fiat money - allowing governments to issue debt denominated in the currency which their (supposedly) independent central banks can print. It works swimmingly, until it doesn't.
Richard Woolnough adds to last week's thoughts from a colleague that the BoE could just cancel...
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