UPDATE 2 – ‘Go big and fast’ – BoE’s Bailey says buying bonds is best in times of crisis – Reuters
* BoE was ‘too cautious’ about pre-COVID firepower – Bailey
* Timing and scale are crucial for the effectiveness of QE
* BoE is looking for future leeway through possible sales of gilding (add details from speech)
By David Milliken and Andy Bruce
LONDON, Aug. 28 (Reuters) – The Bank of England appears to get the most out of its bond purchases if it goes ‘big and fast’ in times of crisis,…