Bank's comments on QE impact are unacceptable

A denial from the Bank of England that quantitative easing (QE) is negatively affecting pensioners has been labelled as 'disingenuous', 'incorrect' and 'baffling' but these words aren't strong enough to describe the frankly insulting nature of the comment.

In a report on the impact of QE the Bank paints the picture of a rosy Britain where falls in pension income due to low gilt yields (exacerbated by QE) are cancelled out by an increase in equities and corporate bonds.