II. Conduct of monetary policy  A. Introduction of “Quantitative and Qualitative Monetary Easing” (QQE)  1. Framework of QQE  Next, I would like to turn to the Bank’s conduct of monetary policy.
The UK economy has been deeply integrated into the European one in very diverse sectors. Inevitably, Brexit will have some consequences. However, it is unclear which players will be relative winners or losers, as the consequences will not be evenly distributed. Obviously, we would have preferred not to have Brexit, because we are not eager to see unnecessary shocks to the economy.