That is why I would expect the Office for Budget Responsibility to tell us in the Autumn Statement that this quantitative easing policy is going to save the government money overall, even if the Treasury does have to send some money back to the Bank.

BBC: Why the Bank held off spending

According to the FOMC statement that announced the second round of quantitative easing, the policy hinged on revamping inflation expectations and stabilizing consumer equity, starting by the easing of lending conditions.

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While no additional quantitative easing measures are expected, the language in the statement alone could cause large swings in the currency market.

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That is why I would expect the Office for Budget Responsibility to tell us in the Autumn Statement that the Bank's policy of quantitative easing is going to save the government money overall, even if the Treasury does have to send some money back to the Bank.

BBC: Why the Bank held off spending

However, the market place took the FOMC statement as taking one more step back from any additional quantitative easing, which had been so bullish for raw commodity markets and so bearish for the U.S. dollar index.

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The statement further squelched talk the Fed will implement another round of quantitative easing.

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Importantly, the market place has at least initially perceived the FOMC statement as suggesting there will not be a fresh round of quantitative monetary policy easing measures coming from the Fed any time soon.

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