The Bank of England sold £24.8 billion of bonds in the first three months of this year just to force up interest rates
As we said back 15 years. The aim of buying gilts with new money was to force down interest rates. As inflation reappears – which it will, at some point – the bank will sell those gilt, collect the money and cancel it. This will force up interest rates.
The Great Tater of course welcomed the printing of money. Then insisted that QE would never be reversed. Because of this insistence that it would never be reversed he’s spent the last decade shouting that the BoE is lying about the size of the public debt.