One area in which the Bank’s strategy is less well established regards the long-term steady-state size and composition of its balance sheet, which may have a bearing on the longer-term conduct of QT and which, as we note later, may have implications for fiscal as well as monetary and financial stability policy.

One area in which the Bank’s strategy is less well established regards the long-term steady-state size and composition of its balance sheet, which may have a bearing on the longer-term conduct of QT and which, as we note later, may have implications for fiscal as well as monetary and financial stability policy. Type: conclusion | Number: 3 | Paragraph: 22 | Response status: not_addressed Government response: As the Committee refers to in their report, there are a set of important issues the Bank is likely to face as APF unwind continues. Across several speeches, former Executive Director for Markets at the Bank, Andrew Hauser, set out these challenges including supplying the right amount of central bank