Bank of England could turn interest rates NEGATIVE as part of efforts to prop up the economy amid coronavirus crisis, says governor Andrew Bailey Bank of England governor Andrew Bailey has been giving evidence to MPs He said it would be ‘foolish’ to rule out turning the Bank interest rate negative The UK government has … Read more
Government borrowing is set to soar to nearly £300billion this year with the debt mountain growing bigger than the whole economy, new estimates found today. The OBR’s latest ‘scenario’ for the crisis sticks to dire suggestions that the economy will shrink 35 per cent in this quarter – more than predicted by the Bank of England. … Read more
The Bank of England has moved to calm fears over coronavirus triggering the deepest recession for 300 years. Governor Andrew Bailey said the downturn due to lockdown was ‘very sharp’, but said the Bank is buying up a ‘much larger’ stock of government debt than could have been ‘imagined’ during the credit crunch. The enormous … Read more
The governor of the Bank of England today issues a stark warning that Britain should be cautious about lifting the coronavirus lockdown too early. In his first interview since taking the top job, Andrew Bailey told the Daily Mail that a premature end to the restrictions could cause a severe loss of confidence and inflict … Read more