Quantitative Easing and Unconventional Monetary Policy – an Introduction


  • Corresponding author: David Miles, Bank of England, Threadneedle Street, London EC2R 8AH. Email: david.miles@bankofengland.co.uk

  • The views expressed in this article are those of the authors and not necessarily those of the Bank of England or the Monetary Policy Committee.


This article assesses the impact of Quantitative Easing and other unconventional monetary policies followed by central banks in the wake of the financial crisis that began in 2007. We consider the implications of theoretical models for the effectiveness of asset purchases and look at the evidence from a range of empirical studies. We also provide an overview of the contributions of the other articles in this Feature.