U.K. Treasury Committee To Probe Effectiveness Of Bank Of England Monetary Policy

The U.K.'s Treasury Committee said Thursday it's launching a review of the effectiveness and impact of monetary policy after the 2008 global financial crisis. "Interest rates are stuck near zero, the Bank of England has used increasingly unconventional forms of quantitative easing, and inflation has been below the two per cent target for three years," said Treasury Committee Chairman Andrew Tyrie in a statement. "The efficacy of monetary policy or otherwise, its unintended consequences, and its prospects, need careful examination." The committee is seeking written submissions on issues ranging from the impact from policy on housing market and financial stability, and on competition, "zombie companies" and productivity. The deadline for submissions is March 5, 2017.