Great round-up of @productivity.bsky.social research on business investment from BoE's Catherine Mann. Eye-catching research on how London, post-GFC, sucked capital from rest of UK. "QE appears to only have benefited London, with the rest of the UK regions being almost entirely unresponsive." ❗

Chimes with the fact that London is the only region to have increased its share of UK economic output over the last 20 odd years, in contrast to every other region. Not so in France or Germany.