QE and how the Bank of England lost £115bn

QE and how the Bank of England lost £115bn

Bank of England (via Alamy/ 3BCPDCE)When there is a national disaster that costs the taxpayer billions, the pressure for an inquiry, however embarrassing it will be to the government, is almost impossible to resist. Without that pressure, the cost is kept hidden until the disaster is ancient history. So the Bank of England must be hoping that the cost of its incompetence managing quantitative easing, and its anti-matter cousin, quantitative tigh…