DIRE WARNING. The Bank of England in London. Photo from Shutterstock
Bailey hinted that further interest rate cuts and quantitative easing – which sees the bank buy government bonds, printing new money in the process – could be in the pipeline. "But it is also important that we consider very carefully the issues that such choices would give rise to."at the fastest pace since the global financial crisis as the country went into coronavirus lockdown in late March.to a record-low 0.1% from 0.25% to tackle the coming"economic shock" from the pandemic.due to COVID-19, as it left the rate unchanged.
But Bailey noted on Wednesday that about 1 in 5 companies in Britain had still reported temporarily closing or a pause in trading, while nearly a quarter had seen their turnover halve."No one can be sure exactly how the pandemic will unfold," Bailey added in his article.
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