Beyond COvid: The discussion Series

How should we pay for the crisis? Debt, the Bank of England and monetary financing

June 12, 2020

The coronavirus crisis has already caused governments to borrow unprecedented sums of money, and the arguments over how this borrowing should be paid for are well underway. Several influential figures have noted that central banks could permanently take on the debt, a process known as ‘monetary financing’. This session will explore the various tools available to central banks to support governments’ fiscal measures, and discuss what these mean for the political economy of the post-pandemic world.