Bank of England: More stimulus for Covid-hit economy

Top Bank of England official says it is ‘quite likely’ that Covid-hit economy will need more stimulus

By Daily Mail City & Finance Reporter

Published: 21:57 BST, 4 September 2020 | Updated: 08:56 BST, 5 September 2020

A top official at the Bank of England said it was ‘quite likely’ that the Covid-hit economy would need more stimulus to offset what may be years of social distancing and the growing risk of post-Brexit trade barriers. 

Stimulus: The Bank has already cut interest rates to a record low of 0.1 per cent and ramped up its money-printing programme by £300billion

The Bank has already cut interest rates to a record low of 0.1 per cent and ramped up its money-printing programme by £300billion. 

But Michael Saunders considered it ‘quite likely additional monetary easing will be appropriate’.

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