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The Bank of England has kept interest rates at 0.1%, citing a lack of clarity over the UK's future trade relationship with the EU and the path of the coronavirus pandemic as cause for concern.The economy has recovered much of the lost output since lockdown.The Bank will continue its monetary support for the economy,. But it stopped short of increasing its bond-buying programme or reducing interest rates further.
The Monetary Policy Committee , which sets interest rate policy, said previous projections of economic recovery were"on the assumption of an immediate, orderly move to a comprehensive free trade agreement with the European Union on 1 January 2021". Economic recovery would also depend on the evolution of the pandemic and measures taken to protect public health, the MPC said.Defending new social distancing measures on Wednesday, the Prime Minister said he was trying to avoid a second national lockdown which could have"disastrous" financial consequences for the UK.The Bank of England said despite a stronger than expected recovery in the last few months, the economy was still about 7% smaller than at the end of last year.
Usually if the economy is not growing strongly enough, the Bank of England considers lowering interest rates to encourage firms to invest and savers to spend.Minutes from this month's meeting show that the MPC discussed the use of negative interest rates to stimulate the economy. Last month, the Bank's governor, Andrew Bailey, appeared to rule that out, though he said negative interest rates remained in the"tool box".
night It threatens the economy because our government is massively over reacting with ridiculously draconian and disproportionate measures.
Discredited BBC's propaganda threatens economy. DefundTheBBC
night Send the bill to China, after all they make enough money selling us shyte..
BBC spin
Isn’t that the plan?
Yip. Short term profit seeking leads to long term profit harm Had we locked down earlier long term profits would've been better Had we reopened slower long term profits would've been better You can't run an economy with a sick workforce If vast numbers are ill, who'll shop?
Cash is slowly becomming worthless, stocks are overvalued.. where does one but there cash? BTC
Oh FUCK YOU, the RT-PCR test throws out false positives, and EVEN A POSITIVE ISN'T A CASE! People aren't dying, or even being hospitalised! Whilst civil, cultural & commercial life is left to rot You are setting humanity up for continual subjugation under a New World Order.
For fuck sake Russia drop the bomb on us put us all out of our misery and these headlines and general fuckness.
The EU breaks International Law - but expect others to obey it - watch this by Jeff Taylor -
Why is the government not declaring false positive test results. Some scientists believe the rate to be so high, that we are not seeing a real rise in Covid infection, but false test results. This could explain why deaths and hospitals admissions have stayed low during rises!
Government threatens economy. Fixed it for you.
no flies on them
No really?!!!!! Wow 😮 I’m shocked. Another scorcher BBC!
This government threatens the economy. They’ve once again failed to contain the virus and the economy will take a nasty hit. All before a probable no deal Brexit..
No locking down is effecting the economy.
No. Tighter lockdown restrictions are destroying economy. Let people get back to their jobs. Thousands of small & micro businesses have been destroyed & pushed into huge debts. Protect most vulnerable by keeping them inside but let working age population get on with their lives.
Negative interest rates may be coming...
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Source: The Guardian - 🏆 84. / 53 Read more »
Source: The Guardian - 🏆 84. / 53 Read more »