UK quantitative easing hits pensions

The Bank of England's policy of quantitative easing has had a knock-on effect on UK pension deficits, with falling bond yields sending liabilities soaring. On March 5, the UK central bank announced it would begin a programme of asset purchases worth £75 billion, financed by the issuance of central bank reserves, for monetary policy purposes - so-called quantitative easing. The bank said part of that amount would finance private-sector asset purchases through the £50 billion asset