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If The Boe Stopped Printing Money What Would Be The Outcome?

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If inflation is a result of too much money in the money supply what would be the outcome of the BoE turning of the printing presses and calling in its loans? What would happen if Mystic Merv took his ball home and said I'm not playing anymore?

Apart from getting the sack?

How would the markets react to such a move?

Is the only option to keep printing money, would printing money at the inflation target rate of 2% have any real effect?

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